September 11, 2008
Bangkok - The world economic growth in 2008-2009 tended to be in trouble due to continual financial crisis and austere policies in many countries, according to the United Nations Conference on Trade and Development (UNCTAD).
Sorachak Kasemsuwan, executive director of the International Institute for Trade and Development, said the world economy had no bright future and this put the developing countries at risk.
UNCTAD 2008 report signaled the fluctuating monetary market, currency exchange and consumer products.
The developing countries were fragile in terms of fluctuating consumer products and profit taking.
Such situations required proper measures to control the capital inflows and outflows, and financial and monetary balance.
It was estimated the world economy would grow 3% this year, nearly 1% drop from last year.
Economic growth in developed countries would be about 1.5% while economic growth in developing countries would be over 6% due to strong demand from developed nations.
However, the growth might drop further after delayed economy in developed nations and too austere monetary policies.
