Global economy is suffering prolonged weakness, UN says

The latest forecasts show global inflation is projected to decline from about 5.7% in 2023 to 3.9% this year

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Global economy is suffering prolonged weakness, UN says

The United Nations report suggests that the world economy is facing an extended period of weakness which is making the globe an unsustainable place.

The UN report has urged the world to tackle key problems facing the world economy i.e. geopolitical tensions, climate crisis and higher borrowing costs. 

Global economy is suffering prolonged weakness, UN says
The UN report has urged the world to tackle key problems facing the world economy

Global economy to slow down

The World Economic Situation and Prospects report has also mentioned a sad picture as the world is expected to slow down by 2.4% this year.

“Warning that sluggish economic growth could undermine progress towards the UN’s sustainable development goals (SDGs) – which include ending poverty and tackling global heating – the report said more international cooperation was required to stimulate growth and promote the green transition”, the guardian reported.

According to the guardian report, “the latest forecasts show global inflation is projected to decline from about 5.7% in 2023 to 3.9% this year, helping to ease the pressure on households and businesses”. 

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