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UN World Economic Situation And Prospects 2023 Report

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