United Nations: The recovery of global economy would continue to be anemic, as it remains hostage to increasing uncertainties and heightening geopolitical tensions in the Middle East, according to international economists.

A report based on submissions of economists from around the world released by United Nations ahead of the meeting of project link – a co-operative, non governmental research jointly co-ordinated by UN and the University of Toronto revised downwards its earlier estimates of growth in the gross world product from 1.8 to 1.7 per cent for the current year and from 3.2 to 2.9 per cent for the next year.

The peak of world economic recovery is not expected until mid 2003, said the UN global economic outlook.

For the South and East Asian region as whole the growth is now projected at 4.4 per cent down from earlier estimates of 4.5 pr cent for the current year.

It is expected to pick up next year when it is projected to be 5 per cent but still lower than 5.4 per cent estimated by link in April. It is projected to increase to 5.1 per cent in 2004.

The project estimated that growth of gross domestic product for India (GDP) would now be 4.7 per cent in the current year against earlier estimates of 5.7 per cent.

Link projected that GDP would grow by 5.5 per cent next year against earlier projection of 6.4 per cent and by 5.8 per cent in 2004.

China is the only country whose GDP is projected to grow by more than seven per cent through 2004. The current year's growth is projected at 7.7 per cent against earlier estimates of 7.2 per cent.

PTI