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1、JANUARY2013ІUS$250GCC2012AREGIONINREVIEWRicoPicenoniAssociateHalaMatarChoufany,MRICSManagingDirectorthwww.hvs.comHVS
2、LibertyHouseBuilding,DIFC,7Floor,Office715,Dubai,UAEAGlobalOverviewFollowingtheimpactoftherelapsingglobaleconomyin2011,Europeaneconomicwoespersistedrelatedtodifficultiesof
3、weakermemberssuchasSpain,Greece,andItaly.Outputinthesecondhalfof2011wasparticularlyweak,exacerbatedbynaturaldisasterssuchasthefloodsinThailand.Contrarily,2012beganonapositivenoteintermsofmarketsentimentandeasingmonetarypolicyindevelopingcountries;thiswasreflectedinthereboundofeconomicact
4、ivityinbothdevelopingandadvancedcountries.TowardstheendofMay,however,negativesentimentintheEuroZonere-ignitedbehindasilhouetteofmarkettension,fiscalslippage,bankingdowngradesandpoliticaluncertainty.Withfurtherdeterioration,theincreaseintensionsubtractedfromEuroZonegrowthin2012,whichregis
5、teredacontractionof0.3%.Withthisinmind,andonaccountofmarketvolatility,globalGDPincreasedbyanestimated3.3%in2012accordingtotheInternationalMonetaryFund(IMF),aidedbythelimitedcontagioneffecttheEuroZonehadondevelopingcountries.Growth,hereafter,isexpectedtoacceleratein2013and2014by3.6%and4.1
6、%,respectively.2012wasayearofchangeintheglobalpoliticalarena.IntheUnitedStates,PresidentBarackObamawasre-electedafterfacingoffwithMittRomneyfromtheRepublicanparty.InEurope,theeconomiccrisisplaguingtheregioncontinuedtobeaddressedbytherespectivepoliticians.Followingacredit-ratingdowngradei
7、nFrance,formerPresidentNicolasSarkozyattemptedtostimulatetheeconomy,whichwasnotreceivedwell.InApril,thecountryvotedforsocialistnomineeFrançoisHollandetotaketheroleofleadingthecountry.Onasimilarnote,afterausteritytalkscollapsed,DutchPrimeMinisterMarkRutteresignedfromhispostwhileatthesamet
8、ime,thetwomainpoliticalpartiesinGreececontinuedfacingfinancialcrises.IncludehereintheongoingbattlesbetweenIran,IsraelandtheUnitedStatesandthegeneraloverviewwasinasimilarconditionastheglobaleconomy;uncertainandunstable.SlowingglobaloutputgrowthresultedintheWorldTradeOrgani
