World Economic Situation and Prospects (WESP)

English
Frequency
Annual
ISSN: 
2411-8370 (online)
DOI: 
10.18356/720b4d75-en
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This publication is the definitive report of the United Nations on the state of the world economy. It is jointly produced by the Department of Economic and Social Affairs, the United Nations Conference on Trade and Development 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.
 
World Economic Situation and Prospects 2017

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English
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Author(s):
DESA
17 Jan 2017
Pages:
219
ISBN:
9789210599450 (PDF)
DOI: 
10.18356/fe12fb85-en

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The World Economic Situation and Prospects (WESP) is the definitive report of the United Nations on the state of the world economy. One of the most highly anticipated economic reports from the United Nations, it is jointly produced by the Department of Economic and Social Affairs, the United Nations Conference on Trade and Development and the five United Nations Regional Commissions.

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  • Acknowledgements

    The World Economic Situation and Prospects 2017 is a joint product of the United Nations Department of Economic and Social Affairs (UN/DESA), the United Nations Conference on Trade and Development (UNCTAD) and the five United Nations regional commissions (Economic Commission for Africa (ECA), Economic Commission for Europe (ECE), Economic Commission for Latin America and the Caribbean (ECLAC), Economic and Social Commission for Asia and the Pacific (ESCAP) and Economic and Social Commission for Western Asia (ESCWA)). The United Nations World Tourism Organization (UNWTO) contributed to the report. The report also benefited from inputs received from the national centres of Project LINK and also from the deliberations in the Project LINK meeting held in Toronto on 19-21 October 2016. The forecasts presented in the report draw on the World Economic Forecasting Model (WEFM) of UN/DESA.

  • Explanatory notes
  • Executive summary
  • Global economic outlook
  • International trade
  • Finance for sustainable development
  • Regional developments and outlook

    Developed economies are expected to see a slight increase in economic growth from 1.5 per cent in 2016 to 1.7 per cent in 2017 and 1.8 per cent in 2018, driven by relatively strong private consumption. Improvement in employment and subdued inflation continue to support households’ purchasing power. At the same time, accommodative monetary policy stances will support economic activity, especially in Europe and Japan, although the limitations of unconventional monetary policy measures increasingly illustrate the need for a broader policy approach to create a more dynamic growth trajectory.

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