High energy prices and rising interest rates will substantially slow the global economy this year, the United Nations has warned.

　　Worldwide growth will slow to 3% in 2005, down from 2004's 4.1%, according to the report from the UN's Department of Economic & Social Affairs (UNDESA).

　　Industrialised nations will be the worst affected, said the report. Developing countries will generally see better growth thanks to strong demand for their minerals and farm goods.

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