World Economic Situation and Prospects 2019: Key Facts
The United Nations report World Economic Situation and Prospects 2019 has been released. The important findings of the report are:
- The report estimates that Global growth is expected to remain steady at 3% in 2019 and 2020, after an expansion of 3.1% in 2018.
- As the impulse from fiscal stimulus in 2018 wanes, Growth in the United States is projected to decelerate to 2.5% in 2019 and 2% in 2020.
- The European Union would witness a steady growth of 2%, even though risks are tilted to the downside, including a potential fallout from Brexit.
- China’s growth is expected to moderate from 6.6% in 2018 to 6.3% in 2019 since policy support would partly offset the negative impact of trade tensions.
- Large commodity-exporting countries, such as Brazil, Nigeria and the Russian Federation, are projected to see a moderate pickup in growth in 2019–2020, albeit from a low base.
The World Economic Situation and Prospects 2019 predicts that a worrisome combination of development challenges could further undermine growth. The report expresses concerns over the sustainability of global economic growth in the face of rising financial, social and environmental challenges.
Categories: Economy & Banking Current Affairs