Economic Recovery: Not So Rapid.

Will there be global economic recover? Of course? Will be it soon? Not really. Or so says Malaysian Institute of Economic Research.

It’s executive director Prof Datuk Dr Mohamed Ariff Abdul Kareem said economic recovery, both globally and locally, is expected to be sluggish till 2012.

In a report by The Star newspaper, he was quoted as saying that the road would be bumpy and rocky as countries around the world might not experience sustainable recovery.

“All indicators show that the world would face sluggish growth for the next three years, we would experience pre-crisis trajectory growth only by 2012,” he said

Countries, such as China, which had shown dynamic growth despite the global slowdown, were actually supported by massive stimulus packages, he said, adding: “Many of these countries have actually become very addicted to stimulus packages, hence recovery is unlikely to be sustainable.”

He said these countries would require further injection of fiscal stimulus in order to keep the growth momentum going but many were running out of resources.