Statement, 18 May 2012

Statement to the UN High Level Thematic Debate on the State Of the World Economy, New York

1. Global economic conditions continue to have a strong bearing on production, trade and investment in developing economies (DEs). In this respect the current landscape is not very encouraging. After three years of recovery the world economy still remains highly fragile. The short-term outlook is for contraction in several advanced economies (AEs) in Europe. Growth in others, including the US, is weak and erratic. But more importantly, medium term prospects are bleak almost everywhere.

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