World Economic Situation and Prospects 2015 Report Released

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.