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To: Rarebird who wrote (55757)	7/6/2000 12:36:46 AM
From: Rarebird	Respond to of 116994

UN Economic Report: Party Doesn't End: (COMTEX) B: Global Economy To Remain Strong, Says UN Report United Nations (United Nations, July 5, 2000) - The world's economic rebound since the 1997-98 Asian crisis has a good chance of continuing for several years, according to a United Nations report released today in New York. In its annual World Economic and Social Survey, the UN Department of Economic and Social Affairs (DESA) forecasts a 3 per cent growth in the world economy this year, up from 2.7 per cent in 1999 and on a par with growth rates in the mid-1990s. While developed economies are forecast to grow by 3 per cent, growth in developing countries is forecast to average 5 per cent in 2000, well up on 1999's 3.4 per cent. Growth in most of the world's poorest countries, however, remains inadequate to meet poverty-eradication goals, the Survey warns. According to the report, the recent experience of the United States suggests that rapid advances in information technology (IT) open up the opportunity of stepped-up economic growth in countries that are able to take advantage of it. "In the United States alone, we estimate that the so-called 'new economy' is adding $100 billion a year to total output," said Ian Kinniburgh, Director of Policy Analysis at DESA. However, the report says many countries are not yet benefiting from information technology and may find it difficult to catch up if they have to rely solely on their own resources. The UN economists call for increased technological and resource transfers to poorer countries to address this difficulty. In addition to economic growth in North America, the survey expects improvements in most other parts of the world, especially South and East Asia, Latin America and Europe. The economies of India and China are expected to continue at their current growth rate of 6 or 7 per cent, while growth for the Baltic countries, as well as for Central and Eastern Europe and the Commonwealth of Independent States, is expected to reach 3 per cent in 2000, up from 2.1 per cent in 1999. In Africa, where output in 2000 should increase by 4 per cent, the growth rate is unevenly spread, leading the report's authors to predict that output per person will fall this year in six countries in sub-Saharan Africa, as well as in at least 14 of the world's 48 least developed countries. On the subject of employment, the report reveals improvements worldwide, and particularly in Western Europe, where unemployment rates dropped below 10 per cent at the end of 1999 for the first time in seven years. As for inflation, the report claims it to be "under control" globally, viewing it as "largely an expectation, rather than something visible" in developed countries, and predicting declines in inflation in developing countries and economies in transition. Distributed via Africa News Online.