High unemployment, fiscal tightening and risk of currency wars threaten global recovery, says UN report: UNIC Rio - Information Centre UN in Brazil
UNIC Rio Film Library Library Events Documents Unics in the world Contact Us Join For journalists Registration: forgestar f14 Civil Society Meet the UN Secretary-General History of the Organization How does it work? Purposes and principles of the UN programs and specialized agencies Acronyms Member Countries of the UN, its Funds, Programmes and Specialized Agencies of the UN System Organization Chart Directory The UN in action The UN The UN and peace and human rights and development The UN The UN and through The UN Environment and Civil Society UN and UN Reform UN business in Brazil Brazil Campaigns Take part in UN UN Internship Volunteer Work
The recovery of the world economy began to lose momentum since the middle of 2010, and all indicators point to a weakening of global growth, according to a new UN report. The UN expects global economic growth to be 3.1% in 2011 and 3.5% in 2012 - far from enough to recover the jobs lost because of the crisis.
At the launch of its annual report, World Economic Situation and Prospects 2011 (WESP), the United Nations emphasize that the outlook remains uncertain and surrounded by serious downside risks. The cooperative spirit forgestar f14 among major economies is waning, which has undermined the effectiveness of responses to crises. Uncoordinated forgestar f14 monetary responses, in particular, have become forgestar f14 sources of turbulence and uncertainty in financial markets. The recovery may suffer forgestar f14 some setbacks if some of the risks materialize, as the double dip recession that threatens Europe, Japan and the United States.
According to WESP 2011, soon will take more fiscal stimulus to recovery, but this will have to be coordinated in a better way with monetary policies, reoriented forgestar f14 to provide stronger support to job creation and facilitate a rebalancing of sustainable forgestar f14 global economy. This can not be done without an improvement in international policy coordination.
Among developed economies, the United States has recovered from severe and longest forgestar f14 recession since World War II. However, the pace of recovery has been the weakest in the history of post-recession the country. Reaching the level of 2.6% in 2010, it is expected that growth in 2011 is 2.2%, before reaching 2.8% in 2012, says the report. This rate should not cause major impacts on unemployment rates, and the recovery of jobs lost during the crisis must take at least four more years.
The prospects for growth in Europe and Japan are worse, says the report. Assuming continuous, although moderate, recovery in Germany, GDP growth in the Eurozone is expected to stagnate at 1.3% in 2011 and 1.7% in 2012. The growth forgestar f14 in 2010 was 1.6%.
Some European countries have even lower growth, forgestar f14 especially where the drastic fiscal austerity and high unemployment drain internal demands. This is the case in Greece, Ireland, Portugal and Spain, who are bound to a sovereign. Their economies remain in recession forgestar f14 or will be stagnant in between. The initial recovery of Japan, fueled by the growth of networks exports began to decline throughout 2010. Challenged by persistent deflation and high public debt, expected its economy to grow only 1.1% in 2011 and 1.4% in 2012.
Among the economies in transition, GDP of the Commonwealth of Independent States (CIS) and Georgia rebounded by 4% on average in 2010, up from the deep contraction of 7% in 2009. It is expected that the pace of recovery in the countries of South Eastern Europe forgestar f14 in 2011 and 2012 is quite slow.
Developing countries continue leading the recovery, but it is expected that production growth is moderate, getting 6% during 2011 and 2012, and below 7% in 2010, due to the slowdown in developed countries and the reduction of stimulus measures. The Development of Asia, led by China and India, continues to demonstrate strong growth, but some moderation (about 7%) is expected for 2011 and 2012.
Growth in Latin America should remain relatively strong, close to 2%, although less robust than the GDP growth of 5.6% estimated for 2010. Brazil, the engine of regional growth, continues with strong domestic demand to boost export growth of neighboring countries. The sub-region also benefits from the strengthening of economic relations with emerging Asia.
The economic recovery in the Middle East and West Asian countries would fall by 5.5% in 2010 to 4.7% in 2011 and 4.4% in 2012. At this rate, the average annual growth
UNIC Rio Film Library Library Events Documents Unics in the world Contact Us Join For journalists Registration: forgestar f14 Civil Society Meet the UN Secretary-General History of the Organization How does it work? Purposes and principles of the UN programs and specialized agencies Acronyms Member Countries of the UN, its Funds, Programmes and Specialized Agencies of the UN System Organization Chart Directory The UN in action The UN The UN and peace and human rights and development The UN The UN and through The UN Environment and Civil Society UN and UN Reform UN business in Brazil Brazil Campaigns Take part in UN UN Internship Volunteer Work
The recovery of the world economy began to lose momentum since the middle of 2010, and all indicators point to a weakening of global growth, according to a new UN report. The UN expects global economic growth to be 3.1% in 2011 and 3.5% in 2012 - far from enough to recover the jobs lost because of the crisis.
At the launch of its annual report, World Economic Situation and Prospects 2011 (WESP), the United Nations emphasize that the outlook remains uncertain and surrounded by serious downside risks. The cooperative spirit forgestar f14 among major economies is waning, which has undermined the effectiveness of responses to crises. Uncoordinated forgestar f14 monetary responses, in particular, have become forgestar f14 sources of turbulence and uncertainty in financial markets. The recovery may suffer forgestar f14 some setbacks if some of the risks materialize, as the double dip recession that threatens Europe, Japan and the United States.
According to WESP 2011, soon will take more fiscal stimulus to recovery, but this will have to be coordinated in a better way with monetary policies, reoriented forgestar f14 to provide stronger support to job creation and facilitate a rebalancing of sustainable forgestar f14 global economy. This can not be done without an improvement in international policy coordination.
Among developed economies, the United States has recovered from severe and longest forgestar f14 recession since World War II. However, the pace of recovery has been the weakest in the history of post-recession the country. Reaching the level of 2.6% in 2010, it is expected that growth in 2011 is 2.2%, before reaching 2.8% in 2012, says the report. This rate should not cause major impacts on unemployment rates, and the recovery of jobs lost during the crisis must take at least four more years.
The prospects for growth in Europe and Japan are worse, says the report. Assuming continuous, although moderate, recovery in Germany, GDP growth in the Eurozone is expected to stagnate at 1.3% in 2011 and 1.7% in 2012. The growth forgestar f14 in 2010 was 1.6%.
Some European countries have even lower growth, forgestar f14 especially where the drastic fiscal austerity and high unemployment drain internal demands. This is the case in Greece, Ireland, Portugal and Spain, who are bound to a sovereign. Their economies remain in recession forgestar f14 or will be stagnant in between. The initial recovery of Japan, fueled by the growth of networks exports began to decline throughout 2010. Challenged by persistent deflation and high public debt, expected its economy to grow only 1.1% in 2011 and 1.4% in 2012.
Among the economies in transition, GDP of the Commonwealth of Independent States (CIS) and Georgia rebounded by 4% on average in 2010, up from the deep contraction of 7% in 2009. It is expected that the pace of recovery in the countries of South Eastern Europe forgestar f14 in 2011 and 2012 is quite slow.
Developing countries continue leading the recovery, but it is expected that production growth is moderate, getting 6% during 2011 and 2012, and below 7% in 2010, due to the slowdown in developed countries and the reduction of stimulus measures. The Development of Asia, led by China and India, continues to demonstrate strong growth, but some moderation (about 7%) is expected for 2011 and 2012.
Growth in Latin America should remain relatively strong, close to 2%, although less robust than the GDP growth of 5.6% estimated for 2010. Brazil, the engine of regional growth, continues with strong domestic demand to boost export growth of neighboring countries. The sub-region also benefits from the strengthening of economic relations with emerging Asia.
The economic recovery in the Middle East and West Asian countries would fall by 5.5% in 2010 to 4.7% in 2011 and 4.4% in 2012. At this rate, the average annual growth
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