World Economic Situation and Prospects 2015 report released by UNESCAP

UNESCAP released WESP 2015 report and projected that regional growth will pick up in 2015-16, as average GDP growth will accelerate from 5.0 percent in 2014 to 5.3 percent in 2015 and 5.7 percent in 2016.

Created On: Jan 20, 2015 17:17 IST

United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) on 19 January 2015 released World Economic Situation and Prospects (WESP) 2015 report. The report projects that the regional growth will pick up in 2015-16, as average GDP growth will accelerate from 5.0 percent in 2014 to 5.3 percent in 2015 and 5.7 percent in 2016.

The report has highlighted that the South Asia’s economic growth is set to reach a four-year high in 2015. The average gross domestic product (GDP) growth of South Asia accelerated from 3.7 percent in 2013 to 4.9 percent in 2014, and is projected to strengthen further to 5.4 percent in 2015 and 5.7 per cent in 2016.

It expects that the recovery will be led by a pick-up in growth in India, which accounts for about 70 percent of regional output.


The report in context of other Asian countries like Bangladesh and the Islamic Republic of Iran said that they will also see growth in the forecast period.

It says that growth supported by the robust external demand is expected to be underpinned by a moderate strengthening of domestic consumption and investment.

Report in context of India
WESP 2015 report said that India will see gradual growth acceleration in its GDP which is expected to reach 5.9 percent in 2015 and 6.3 percent in 2016. It says that it is expected that the recovery will be led by India.

India’s economy expanded in 2014 estimated by 5.4 percent, which improved from growth of 5.0 percent recorded in 2013.

The report said that the recovery is partly the result of improved market sentiment and plans to reform the bureaucracy, labour laws and public subsidies after the new administration took office in the second quarter of 2014.

About United Nations World Economic Situation and Prospects (WESP) report
WESP report is published annually at the beginning of the year by the UN Department of Economic and Social Affairs (UN/DESA), the UN Conference on Trade and Development (UNCTAD), the five UN regional commissions and the World Tourism Organization (UNWTO).

 

Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

एग्जाम की तैयारी के लिए ऐप पर वीकली टेस्ट लें और दूसरों के साथ प्रतिस्पर्धा करें। डाउनलोड करें करेंट अफेयर्स ऐप

AndroidIOS

Related Stories

Comment (0)

Post Comment

9 + 7 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.

    Monthly Current Affairs PDF

    • Current Affairs PDF October 2021
    • Current Affairs PDF September 2021
    • Current Affairs PDF August 2021
    • Current Affairs PDF July 2021
    • Current Affairs PDF June 2021
    • Current Affairs PDF May 2021
    • Current Affairs PDF April 2021
    • Current Affairs PDF March 2021
    View all

    Monthly Current Affairs Quiz PDF

    • Current Affairs Quiz PDF October 2021
    • Current Affairs Quiz PDF September 2021
    • Current Affairs Quiz PDF August 2021
    • Current Affairs Quiz PDF July 2021
    • Current Affairs Quiz PDF June 2021
    • Current Affairs Quiz PDF May 2021
    • Current Affairs Quiz PDF April 2021
    • Current Affairs Quiz PDF March 2021
    View all