UN forecasts higher world growth in 2010, led by developing countries

10:27, May 27, 2010      

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The United Nations said Wednesday that the world economy is expected to grow at a faster- than-expected rate of 3 percent this year as it rebounds from last year's 2 percent contraction.

In its updated 2010 World Economic Situation and Prospects ( WESP), the world body said that as the world continued on its recovery path, developing countries like China and India will be leading the way.

The report said that, propelled by fiscal stimulus packages and expansionary monetary policies, most economies registered positive growth in late 2009 and early 2010.

Thus, with the continued improvement of the world economy, the United Nations' outlook has been revised slightly upward from a mild growth of 2.4 percent in an earlier forecast in January.

However, it also noted that further recovery is needed to recuperate job losses and close the output gap of the deep recession.


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(Editor:燕勐)

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