World Economic Situation and Prospects
World Economic Situation and Prospects 2013
World economic situation and prospects as of mid-2013*
- Global growth will remain subdued in 2013 despite improved financial conditions and reduced short-term risks.
- Most regions are expected to see a moderate pick-up in 2014, but growth will continue to be below potential and employment gains will be weak
- Short-term risks stemming from the euro area crisis, fiscal adjustment in the United States and a further slowdown in large developing countries have diminished, but not disappeared
- Enhanced international policy coordination is needed to mitigate negative policy spillovers and foster robust and balanced growth.
ISBN 978-92-1-109166-3
eISBN 978-92-1-055911-9
Sales No. E.13.II.C.2
Live updates of the December 18 launch of the Global Economic Outlook, Chapter 1 of the World Economic Situation and Prospects 2013 are on Facebook.
World Economic Situation and Prospects 2013
- presents a post-crisis world economy still struggling with continued weakening growth of 2.2 per cent in 2012;
- projects disappointing global growth of 2.4 per cent in 2013 and 3.2 per cent in 2014 in the face of major uncertainties and downside risks;
- foresees a much slower pace of poverty reduction in many developing countries and narrowing fiscal space for investments in the many critical areas needed for achieving the Millennium Development Goals;
- calls for more forceful and concerted policy action at the global level, identifying fiscal and employment policies, financial market stability, development assistance and green growth as key challenges.