World Economic Situation and Prospects 2013

Growth of the world economy has weakened considerably during 2012 and is expected to remain subdued in the coming two years. The global economy is expected to grow at 2.4 per cent in 2013 and 3.2 per cent in 2014 a significant downgrade from the UN’s forecast of half a year ago. The report also foresees a much slower pace of poverty reduction in many developing countries and a narrowing fiscal space for investments in critical areas for achieving the MDGs. The World Economic Situation and Prospects (WESP) is jointly produced by DESA, the UN Conference on Trade and Development (UNCTAD) and the five United Nations Regional Commissions and is the definitive report on the state of the world economy.