UNITED NATIONS (AP) — The United Nations reported improved prospects for the world economy since its January forecast on Thursday, pointing to a better outlook in the United States and several large emerging economies including Brazil, India and Russia.
According to its mid-2024 report, the world economy is now projected to grow by 2.7% this year – up from the 2.4% forecast in its January report – and by 2.8% in 2025. A 2.7% growth rate would equal growth in 2023, but still be lower than the 3% growth rate before the COVID-19 pandemic began in 2020.
“Our prognosis is one of guarded optimism, but with important caveats,” Shantanu Mukherjee, director of the U.N.’s Economic Analysis and Policy Division, told a news conference launching the report.
The report pointed to interest rates that are higher for longer periods, debt repayment challenges, continuing geopolitical tensions and climate risks especially for the world’s poorest countries and small island nations.
HK vibrant with celebratory atmosphere ahead of 25th anniversary of return to motherland
Tourism festival spurs consumption in Shanghai
Xi Holds Talks with Algerian President
Xi Focus: Xi Stresses Enhancing Party Leadership over Armed Forces
Economic Watch: Improving logistics indexes reflect China's economic recovery
China opens taekwondo gold account at Hangzhou Asiad
Roll of Japanese chemical warfare unit disclosed
Country lifestyle attracts people to village
Xinhua Headlines: Xi Stresses Building Beautiful China, Advancing Modernization Featuring Human