Page last updated at 14:06 GMT, Friday, 30 January 2009

Gates predicts four-year downturn

The former head of Microsoft, Bill Gates, believes it could take four years for global economies to return to positive growth.

Microsoft founder Bill Gates has told the BBC that it could take as much as four years for economies in trouble to return to positive growth.

He said the upturn would be driven by innovations in science and technology.

Speaking at the World Economic Forum, where he is promoting his charitable foundation, he said the world's poor could not wait for economic recovery.

He said it was up to philanthropists like himself to urge governments, firms and individuals to keep on giving.

Bill Gates, the world's richest philanthropist, said the Bill and Melinda Gates Foundation has lost one fifth of its value in the current crisis.

Despite his prediction that it could be as much as four years before many economies see growth again, he insisted the fundamentals of the global economic system were sound.

Capitalism, he said, had led to incredible opportunity and innovation, and when in five to 10 years, a new upward trend is established, he believed advances in medicine, genetics and software would drive new growth.

Print Sponsor


RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2013 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific