Global Economic Recovery to Decline in 2022-2023 After Strong Rebound Last Year - UN
The global economy is projected to grow only by 4.0 percent in 2022 and 3.5 recent the following year after a strong recovery in 2021, a new United Nations' World Economic Situation and Prospects (WESP) 2022 report revealed
UNITED NATIONS (Pakistan Point News / Sputnik - 13th January, 2022) The global economy is projected to grow only by 4.0 percent in 2022 and 3.5 recent the following year after a strong recovery in 2021, a new United Nations' World Economic Situation and Prospects (WESP) 2022 report revealed.
"After a global contraction of 3.
4 percent in 2020 and following an expansion of 5.5 percent in 2021, the highest rate of growth in more than four decades, the world economy is projected to grow by 4 percent in 2022 and 3.5 percent in 2023," the report said.
The new waves of COVID-19 infections, persistent labor market challenges, supply-chain disruptions and soaring inflation affect global economic recovery, the report added.