The line graph depicts the World Bank’s forecast for real GDP growth, measured at 2005 prices, over a span of eight years from 2008 to 2015. The data illustrates a notable decline in economic performance in the financial crisis, followed by a pronounced recovery and subsequent stable growth in later years.
In 2008, there was a marginal contraction on the GDP growth forecast recorded on 0,34%, which was excarbated. In 2009, culminating in a significant decline at 3,07%. This stark downturn indicates the economic impact of the global financial crisis. However, the following year, there was a significant turnaround, with the GDP forecast surging to an increase of 3.99%, reflecting a robust recovery from preceeding recession. This year, marked on commencing an upward trend which sustained through 2011. The period from 2011 onwards demonstrateds a steady pace trajectory of growth, albeit at a more moderate pace.
The growth rate remained consistent in 2012 and 2013, both yielding a growth of 2,20%. This trend continued into 2014, whre it rose to 2,75%, before reaching 3,00% in 2015. The data particularly from 2012 to 2015, is underscored by a shaded background in the graph, indicating that those figures are based on forecasts, yet they illustrate a clear upward momentum in economic growth during this period.
