Amid multiple global crises, risk of prolonged period of low growth looms large, UN report warns
Growing financing gaps, anemic investment and mounting debt vulnerabilities threaten to derail global progress on sustainable development Prospects for a robust global economic recovery remain dim amid stubborn inflation, rising interest rates and heightened uncertainties. Instead, the world economy faces the risk of a prolonged period of low growth as the lingering effects of the COVID-19 pandemic, the ever-worsening impact of climate change and macroeconomic structural challenges remain unaddressed, according to the World Economic Situation and Prospects as of mid-2023 released on May 16. According to the report, the world economy is now projected to grow by 2.3 per cent in…
