UN / WORLD ECONOMIC SITUATION

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ENGLISH 17-May-2018 00:01:44
The Chief economist at the United Nations Department of Economic and Social Affairs (UNDESA) said “the short-term prospects for the world economy have continued to improve” but warned that “risks have increased as well.” UNIFEED
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STORY: UN / WORLD ECONOMIC SITUATION
TRT: 01:44
SOURCE: UNIFEED
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LANGUAGE: ENGLISH / NATS

DATELINE: 17 MAY 2018, NEW YORK CITY / FILE

SHOTLIST:

FILE – RECENT, NEW YORK CITY

1. Tilt up, exterior United Nations headquarters

17 MAY 2018, NEW YORK CITY

2. Wide shot, dais
3. SOUNDBITE (English) Elliot Harris, UN Assistant Secretary-General for Economic Development and Chief Economist:
“The short-term prospects for the world economy have continued to improve. Global GDP forecast has been revised upward for both this year and for 2019 based on stronger performance in developed economies. Important drivers for this improvement are stronger wage growth and consumption, broadly favourable investment conditions, as well as the short-term impact of the fiscal stimulus measures in the United States.”
4. Med shot, journalists
5. SOUNDBITE (English) Elliot Harris, UN Assistant Secretary-General for Economic Development and Chief Economist:
“While the upward revision in growth projection is clearly positive news for the prospects of making tangible progress towards achieving the Sustainable Development Goals, there is a strong and urgent need not to become complacent in response to these upward trending headline figures. The report underscores that the risks have increased as well. And it highlights the need to urgently address a number of policy challenges including threats to the multilateral trading system, high inequality, and a renewed rise in carbon emissions.”
6. Med shot, journalist
7. SOUNDBITE (English) Elliot Harris, UN Assistant Secretary-General for Economic Development and Chief Economist:
“We face today a very pressing and urgent need to confront threats to the multilateral approach to international policy making. Multilateralism is at the very heart of this organization and the problems that have now moved to the fore, cannot be addressed effectively in a fragmented and disjointed way.”
8. Wide shot, end of presser

STORYLINE:

The Chief economist at the United Nations Department of Economic and Social Affairs (UNDESA) today (17 May) said “the short-term prospects for the world economy have continued to improve” but warned that “risks have increased as well.”

Presenting the Mid-2018 revision of the World Economic Situation and Prospects Report, the Assistant Secretary-General for Economic Development, Elliot Harris, said “Global GDP forecast has been revised upward for both this year and for 2019 based on stronger performance in developed economies.”

Important drivers for this improvement, he said, are “stronger wage growth and consumption, broadly favourable investment conditions, as well as the short-term impact of the fiscal stimulus measures in the United States.”

Harris noted that “while the upward revision in growth projection is clearly positive news for the prospects of making tangible progress towards achieving the Sustainable Development Goals, there is a strong and urgent need not to become complacent in response to these upward trending headline figures.”

He said the report “highlights the need to urgently address a number of policy challenges including threats to the multilateral trading system, high inequality, and a renewed rise in carbon emissions.”

In this regard, Harris said “we face today a very pressing and urgent need to confront threats to the multilateral approach to international policy making. Multilateralism is at the very heart of this organization and the problems that have now moved to the fore, cannot be addressed effectively in a fragmented and disjointed way.”

According to the report World gross product is expected to expand by 3.2 per cent in both 2018 and 2019.
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