The UN-backed report titled "World Economic Situation and Prospects 2011" states that fiscal policies, in tandem with income and structural policies, will need to be reoriented to foster job creation and green growth.
18 January 2011: The UN launched a report titled “World Economic Situation and Prospects 2011,” which provides that fiscal policies, in tandem with income and structural policies, will need to be reoriented to foster job creation and green growth.
The report analyzes how to design more fiscal stimulus to reinvigorate the global recovery, and notes the redesign must focus on strengthening its impact on employment and aid in the transition towards promoting structural change for more sustainable economic growth. One priority area identified is to expand public investment in renewable clean energy as part of commitments to reduce greenhouse gas (GHG) emissions, and in infrastructure that provides greater resilience to the effects of climate change. Another area suggested is to expand and improve public transportation networks, which would create a potentially significant number of new jobs while helping to reduce GHG emissions, particularly in rapidly urbanizing environments. Social protection policies are also identified as another crucial element in cushioning the impact of economic shocks, boosting aggregate demand and contributing to the sustainability of economic growth.
The report was launched in Addis Ababa, Ethiopia, Bangkok, Thailand, Beirut, Lebanon, Geneva, Switzerland, Johannesburg, South Africa, Mexico City, Mexico, and Moscow, Russian Federation. A launch in Beijing, China, is scheduled on 21 January 2011. The report is a joint product of the UN Department of Economic and Social Affairs (UN DESA), the UN Conference on Trade and Development (UNCTAD) and the five UN regional commissions (the Economic Commission for Africa (ECA), the Economic Commission for Europe (ECE), the Economic Commission for Latin America and the Caribbean (ECLAC), the Economic and Social Commission for Asia and the Pacific (ESCAP), and the Economic and Social Commission for Western Asia (ESCWA)). [The Report].