World Economic Situation and Prospects 2013

Slowdown in China and recession in Europe will weigh heavily on economic activity in East Asia with regional growth forecasts expected to pick up mildly in 2013. Economic woes in Europe, Japan and the United States and a sharper-than-expected slowdown in China weighed on economic growth in East Asia in 2012. In the outlook, average growth in East Asia is forecast to pick up mildly to 6.2 per cent in 2013, from the estimated 5.8 per cent in 2012. GDP growth in South Asia is expected to average 5.0 per cent in 2013, up from 4.4 per cent in 2012, led by a moderate recovery of India’s economy.

These economic situation analysis and future predictions will be discussed at a briefing on the “World Economic Situation and Prospects 2013” at the UN Conference Centre on January 17. The briefing will further assess present policy stances that fall short of what is needed to spur economic recovery and address the jobs crisis. While existing policy efforts have been significant, especially, in trying to redress sovereign debt distress, the combination of fiscal austerity and expansionary monetary policies have had mixed success in calming financial markets and strengthening economic growth and job creation.

What: Briefing on “World Economic Situation and Prospects 2013” Report

Who: Opening remarks: Aynul Hasan, Officer-in-Charge, a.i., Macroeconomic Policy and Development Division (MPDD), ESCAP

Presentation: Oliver Paddison, Economic Affairs Officer, MPDD, ESCAP

Comments and discussion: Dr. Soraphol Tulayasathien, Director of Economic Stability Analysis Division, Thailand Ministry of Finance

When: Thursday, 17 January 2013 at 14:00 to 15:30 hours

Where: Theatre, Ground Floor, UN Conference Centre, Bangkok

World Economic Situation and Prospects is produced at the beginning of each year by the UN Department of Economic and Social Affairs (UN/DESA), the United Nations Conference for Trade and Development (UNCTAD) and the five United Nations regional commissions. It provides an overview of recent global economic performance and short-term prospects for the world economy and of some key global economic policy and development issues. One of its purposes is to serve as a point of reference for discussions on economic, social and related issues taking place in various United Nations entities during the year.

On the web: