Annual Report and Consolidated Accounts 2015
The world economy is on a slow and gradual path
to recovery. The problems and imbalances in some
of the largest emerging economies persist, namely
the risk of cooling of the Chinese economy. The
growth of the more developed economies, in spi-
te of all the stimulus measures adopted, remains
modest. Economic divergence and conflicts be-
tween countries seem to indicate that 2016 will be
yet another year of weak growth filled with many
factors of political uncertainty that may have a
negative influence on trade worldwide.
Final
Note
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