FRANKFURT - Economic recovery from the financial crisis will be gradual, World Bank President Robert Zoellick said on Thursday.

"In the real economy we are seeing signs of recovery, which most forecasters see as gradual," Zoellick said via a satellite connection at Euro Finance Week in Frankfurt.

"Unemployment is high and is likely to persist."

He said the moment of truth would come in the second half of next year when public stimulus decreases and the private sector had to support the economy again.

It was important to make sure that the added central bank liquidity did not just push up food and commodity prices.

"We have to be very careful ample liquidity does not just end up flowing into commodity markets, especially raising prices for food and fuel, which can undermine the most vulnerable at a particularly sensitive time," he said.

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