World GDP growth will be 2.5 percent in 2008 and 0.9 percent for 2009, according to a report released by the World Bank on Tuesday.

According to the Global Economic Prospects (GEP) 2009 report, the ongoing world financial crisis has dimmed short-term prospects for developing countries, and the volume of world trade is likely to contract for the first time since 1982.

Meanwhile, the sharp slowdown has caused commodity prices to plummet, ending a historic five-year boom.

(Xinhua News Agency December 10, 2008)