It has been seen in global economic forecast for financial years 2009 and 2010, that there has been some amount of disparity in way that predictions have shaped up. There are certain countries that have been predicted to be in better economic condition compared to other countries. Much of this situation could be credited to a fact that there were some countries which experienced tremors earlier than other countries.
Those countries have been experiencing sharp decline in rates of economic growth and their development has been affected as well. They did not have sufficient time and financial resources to come to terms with this crisis. As per world economic forecast, things are going to get worse for them, provided current trends continue. These forecasts are also, in part, based on fiscal policies that are adopted by governments, who are in charge of economic affairs.
It is important to determine exact purpose of economic reliefs being arranged, for that gives an idea regarding overall and actual utility of financial benefits. In Japan, for example, economists have been opining that financial relief packages are more of efforts to increase popularity, and amount of economic pragmatism involved in these benefits is rather less. On other hand there are countries like United Kingdom where authorities are lending a helping hand to common consumers and entire financial system, on a whole.
In United Kingdom, Prime Minister Gordon Brown has dished out a huge amount of money in order to save banking sector from running out of existence. He opines that only way out of this ongoing economic crisis is to spend more money and not restrict expenditure. There are countries like Australia where effects are not that prominent yet. Thus Australia has both time and sufficient financial resources to keep its economy going. Countries where economic slowdowns have been predicted are suffering from faulty governmental policies.
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