News Update :

UN cuts world growth forecast, IMF to follow

Saturday, December 3, 2011

United States: 2.6 percent global growth in 2012, the United Nations on Thursday cut its forecast and warned that the Eurozone debt crisis and reduce the efficiency.

"The world economy is teetering on the brink of another major downturn," the UN International Monetary Fund said in its global growth forecast was less than that reported in a warning.

After rising 4.0 percent in 2010, the UN In 2012 and 3.2 percent in 2013 to 2.6 percent growth predicted the world. UN Early next year will be 3.6 percent economic growth, he added.

"The forecast of severe fiscal austerity in developed countries towards the euro and the credit crisis and moving containers on a suspension is conditioned, however," the UN The report said the global economic situation and future opportunities.

It's slow economic recovery or recession, the fall of 2012, leaving one world "or break year," he said.

China, Brazil and India led the developing countries, 5.8 percent and 5.4 percent average growth in 2013 and 2012 continue to identify forward, pulling the world economy. But this is down 7.1 percent in 2010.

"From the second quarter of 2011, transition economies of most developing countries, and economic growth began to slow significantly," struck out by governments in Europe and North America report.

UN Every major country and region and its 2012 prediction following amendments: It is now Europe's 27 living below the 0.7 percent and its last forecast of 1.3 percent growth, Japan still 1.5 percent (down 1.3 percent), 0.5 percent, foresees trade (down 0.8 percent), South Africa for China, 8.7 percent (down 0.2 percent), India 7.7 percent (down 0.5 percent) and 3.7 percent (down 1.1 percent).

In Latin America, 2.6 percent below the previous forecast of growth in Brazil since 2012, was a mere 2.7 percent.

"The credit crisis and financial sector jobs increased by the address and stop easily, especially the failure of policymakers, those in Europe and America, the world economy caused the most serious danger," said Poll.

"The situation could deteriorate further because of the collective inaction," Jomo Kwame Sundaram, UN Economic Growth Assistant General Secretary, said at a press conference to introduce the report.

"Unfortunately, there is a more likely chance of a negative situation," he said.

Sovereign debt crises in Europe, a "cause and effect" in the United States, and when unemployment and suffering, is the global slowdown, "Consumer and business confidence is shaken," the statement said.

European and U.S. economies are so closely similar "problems in their feed each other and can spread to the global recession," UN Warned.

AFP
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