UNCTAD's Trade and Development Report 2011 was launched in New Delhi on 6 September 2011. The report mentioned that global economy would wtness a slow down to 3.1 per cent in 2011 from 4 per cent in 2010. The slow down would impact developing economies which would get affected by recession in the developed world.
Even as the developing countries were expected to regain the pre-crisis growth rate of 6 per cent in 2011, economic expansion in the developed economies was likely to be only about 1.5-2 per cent.
The South Asia region was likely to be among the best performers globally, with a growth of seven per cent in 2011. On the other hand, growth in the U.S. was to remain low on account of low domestic demand, stagnating wages. The European debt crisis is expected to act as a drag on the global growth.
UNCTAD projected an economic growth of 8.1 per cent for India, the fastest rate of expansion in the world after China.
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