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World Economic Survey 1977

Current Trends in the World Economy

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World Economic Survey 1977 highlights a widespread uncertainty and unease about prospects for the world economy in 1978 and even over a longer time span. Although domestic income and output in 1977 and early 1978 have been continuing to increase in most countries, the pace has been moderating recently and shows no signs of quickening in the immediate future. For most countries—developing as well as developed—prospects are seen to depend quite heavily on events external to their domestic economy.

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Preface

Each year, in accordance with General Assembly resolution 118 (II) s the Economic and Social Council holds a general discussion on international economic and social policy at its second regular session. In the general discussion, as specified by the Assembly, the Council considers I!a survey of current world economic conditions and trends ... in the light of its responsibility under Article 55 of the Charter to promote the solution of international economic problems, higher standards of living, full employment and conditions of economic and social progress and development”. The World Economic Survey, 1977 has been prepared to assist the Council in its deliberations at the second regular session in July 1978.

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