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.
