UN forecasts higher world growth in 2010, led by developing countries (2)

10:29, May 27, 2010      

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Besides, the pace of the recovery is too weak to close the global output gap left by the crisis, and that the recovery is also uneven across nations.

Although growth prospects for some developing countries are encouraging, economic activity is lackluster in developed economies and below potential elsewhere in the developing world.

The report also noted that important weaknesses in the global economy remain. In particular, despite the large amounts of liquidity injected into the financial system, credit growth remains feeble in major developed economies, while the process of financial de-leveraging is still ongoing.

Thus, unemployment rates are expected to remain elevated for a protracted period in most developed economies, whereas many workers have been pushed into vulnerable employment in developing regions, such that the number of working poor has increased, it said.

"The outlook for Europe was already lackluster, but these consolidation programs, however necessary, will lead to sharply lower growth prospects for many years to come," said Rob Vos, a leading economic expert of the UN.


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(Editor:燕勐)

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