Arab Today, arab today un sees weak economic recovery this year
Last Updated : GMT 11:30:55
Arab Today, arab today
Arab Today, arab today

UN sees weak economic recovery this year

Arab Today, arab today

Arab Today, arab today UN sees weak economic recovery this year

New York - AFP

The world economy should start to make a weak recovery this year, but the United Nations said Thursday that Japan faces \"risks\" with its pump-priming spending and saw no end to Europe\'s unemployment agony. The UN revised downward its forecast for the world economy to 2.3% growth this year, followed by 3.1% in 2014. It had previously predicted a 2.4% rise in global gross domestic product (GDP) this year and 3.2% for next year. The UN World Economic Situation and Prospects report said a recovery would start in the second half of 2013 as the US economy improves. But it said \"several key risks and uncertainties remain, and, if not mitigated, could derail global growth again.\" The latest forecast said the US economy would grow by 1.9% this year and 2.6% in 2014. China would grow by 7.8% this year and fall to 7.7% next year, and Japan by 1.3% in 2013 and 1.6% in 2014. The UN said the economy in the European Union\'s euro area would shrink by 0.4% this year and make a modest recovery to 1.1% growth next year. Africa was predicted to see 5.0% growth this year and 5.4% next year. For every country and region, the growth prediction has been shaved back because of doubts about tactics being used for recovery. \"The main priority for policy makers worldwide should therefore be to support a robust and balanced global recovery, with a focus on promoting job creation,\" said the report. The UN said Japan\'s Prime Minister Shinzo Abe has embarked on a \"bold\" policy of huge asset purchases and massive monetary easing. The measures \"could help reverse the country\'s economic weakness, but they also entail certain risks and uncertainties\" as seen in the major fall in the yen in recent months. The report predicted a short-term boost for Japan, but added that the measures may \"create heightened medium term uncertainties regarding the sustainability of public debt.\" \"Western Europe remains mired in either recession or at best extremely low growth\" held back by fiscal austerity, said the UN. With unemployment already above 25% in Greece and Spain, the average for the 17 countries that use the euro currency hit a high of 12.1% in the first quarter this year and the UN said it would rise to 12.8% in 2014. It added that the euro area debt crisis \"remains a major risk factor for the world economy although recent policy actions have lowered some of the short-term risks.\" The report also said \"significant uncertainties\" remain for the US economy if the US Congress fails to raise the government\'s debt ceiling and spending cuts which started this year are extended and expanded. \"Policy impasse and more fiscal tightening could erode consumer and business confidence,\" said the UN. It added that the US unemployment rate has fallen but remains high and predicted the rate would fall slightly to average 7.0% through 2014. China\'s economy has \"shifted to a lower growth trajectory\", while other export oriented economies in Asia should see \"a mild recovery\". \"While the baseline forecast projects growth to stabilize between 7.0%-8.0% in the coming years, the possibility of a slowdown to 5.0% cannot be ruled out,\" said the report, highlighting risks from high property prices, banking problems and a lack of transparency in local government debt.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today un sees weak economic recovery this year Arab Today, arab today un sees weak economic recovery this year

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today un sees weak economic recovery this year Arab Today, arab today un sees weak economic recovery this year

 



Arab Today, arab today
Arab Today, arab today Arab tradition glitters in Colombia

GMT 12:59 2017 Thursday ,19 October

Arab tradition glitters in Colombia
Arab Today, arab today Second US judge orders freeze

GMT 08:04 2017 Thursday ,19 October

Second US judge orders freeze
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 18:29 2017 Sunday ,03 September

Designer produced new set of ornaments

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:52 2017 Monday ,16 October

Airbus CEO says won't cling to job

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 19:29 2017 Tuesday ,29 August

Yomna: decoration leaved positive effects
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday