UN predicts global economic recovery in 2010

Posted By: Staff
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New York, Dec 3: United Nations on Dec 2 predicted a possible global economic recovery in 2010, in the report entitled UN World Economic Situation and Prospects 2010.

Stating that the recovery will be mere 2.4 percent in 2010, UN has advised rich countries to hold on to stimulus packages and to prevent US dollars from depreciating.

"The recovery is fragile. Firms have mainly begun to restock inventories, rather than respond to stronger consumer or investment demand," UN said, adding that while inflation rate may drop unemployment rate will remain unchanged.

UN said that the stimulus measures adopted by government worldwide have contributed to a total amount of USD 2.6 trillion which will be carried over to 2010.

The report also said that the positive recovery shown by economies worldwide has been strenghtened in the third quarter of 2009.

However the economic slowdown in 2009 will result in the world gross product (WGP) declining to 2.2 percent in the current year.

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