UN World Economic Situation And Prospects 2023 Report:
The United Nations Department of Economic and Social Affairs launched the “World Economic Situation and Prospects” report or simply the World Economy Report.
- The report says that the economic growth of the world is slowing down. It is to reach 1.9% in 2023 from 3% in 2022.
Findings of the Report:
- Increasing inflation is to affect the private-sector investments
- Global Inflation is to remain at 6.5% in 2023
- Banks are to increase the interest rates and therefore, the overall economic growth of countries will be at stake
- Countries will face recession as they enter 2024
- The countries are to face heavy challenges in achieving the Sustainable Development Goals
- Poverty levels are to increase
- People will face unemployment.
- Those who are already in the job will encounter job insecurity
- Losses in women’s employment
- More than 350 million are to face food insecurity
