GLOBAL ECONOMY: Post-pandemic world economy still reeling from COVID – UN on GEO´
GLOBAL ECONOMY: Post-pandemic world economy still reeling from COVID – UN on GEO´
Posted By: GEO´ PRWire Team – Gibraltar
17th May 2023
Prospects for a robust global economic recovery remain dim as the lingering effects of the COVID-19 pandemic carry on, according to the UN’s latest World Economic Situation and Prospects report, released on Tuesday.
Risks of a prolonged period of low growth stand, amid stubborn inflation, rising interest rates, and heightened uncertainties, in addition to the ever-worsening impact of climate change, the report found.
Challenging development
The current global economic outlook also presents an immediate challenge to delivering on the Sustainable Development Goals (SDGs), said Li Junhua, Under-Secretary-General for the Department of Economic and Social Affairs (DESA).
“The global community must urgently address the growing shortages of funding faced by many developing countries, strengthening their capacities to make critical investments in sustainable development and helping them transform their economies to achieve inclusive and sustained long-term growth,” he said.
According to the report, the world economy is now projected to grow by 2.3 per cent in 2023 and 2.5 per cent in 2024, a slight uptick in the global growth forecast for 2023, according to the report, which is produced by DESA. Learn More /…
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