United Nations on 18 December 2012 slashed its global growth predictions to 2.4 percent for 2013 and 3.2 percent for the following year and warned of a lasting employment crisis for western countries.
The UN's World Economic Situation and Prospects 2013 report warned that the Debt crises in Europe and the United States and a slowdown in China could all throw the world economy into recession.
Earlier in the t month of June 2012 UN had predicted a growth forecast 2.7 percent for 2013 and 3.9 percent for the year after.
As per the Report, With existing policies and growth trends, it is going to take at least another five years for Europe and the United States to make up for the job losses caused by the Great Recession of year 2008-2009.
The report also predicted growth in South Asia averaging 5 percent in 2013, up from 4.4 percent in 2012, led by a moderate recovery in India.
UN Slashed World Growth Forecast to 2.4 Percent for year 2013
By Jagran Josh
Dec 19, 2012, 19:23 IST
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