SHORT AND MEDIUM TERM OUTLOOK OF THE WORLD ECONOMY

In keeping with the January 2010 IMF prognoses, world output is expected to rise this year by 4 per cent in comparison with the 2009 level. This represents an upward revision of ¾ per centage point from the October 2009 World Economic Outlook. In 2011, world economy growth is projected to reach a level of 4.3 per cent.,p> Reform of financial market supervision and regulation is clearly necessary to build a more resilient financial system. Here, the efforts need to focus on identifying the market imperfections that gave rise to the incentives for excess risk taking and high leverage, as well as the regulatory failures that together caused this unprecedented global financial crisis.world economy; recession; recovery; stimulus measures;