In Egypt s case, the crucial tourist sector contracted sharply after the revolution.

As a result of the tsunami, the GDP contracted by about 3.6 in 2005.

The region s economies have contracted, owing to a sharp drop in tourism revenues and disruptions of production and trade.

The economy contracted in 2012, and wages declined, despite increases in Germany and some northern countries.

Such policies had a profound impact on life in the occupied territories, where the economy had shrunk, leading to higher unemployment and wider poverty.

The economy of Zimbabwe shrunk significantly after 2000, resulting in a desperate situation for the country and widespread poverty and an 80 unemployment rate.

In recent years, lending by both institutions contracted dramatically, even though they have increasingly become the exclusive lenders to the world s poorest countries.

The economy contracted in 2001 and 2002 due to slowdowns in tourism, consumer spending and the impact of the 11 September 2001 attacks, but rebounded in 2003 and has shown growth since 2004.

Similarly, in 2011, Spanish banks increased their lending to the government by almost 15 , even though private sector lending contracted and the Spanish government became less creditworthy.

The country s largest such crisis, in 2001, brought down the local banking system and caused the Argentine government to default on its debts. The economy contracted by a whopping 18 , and the unemployment rate peaked above 22 .

Public sector demand has also contracted, owing to state and local governments deteriorating budgets. As a result, public employment, which usually rises during recoveries, has been a major contributor to high unemployment during the last three years.

South Korea s economy grew at a mere 0.4 in the same period the slowest pace in two years while Japan s GDP contracted at a larger than expected 2.3 , as the yen s strength weighed down exports.

The economy contracted in 2012, and wages declined, despite increases in Germany and some northern countries. Reliable statistics are not yet available, but poverty in Europe s south is increasing for the first time in decades.