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Economic Analysis and Policy

Global economic growth is projected to slow from an estimated 2.7 per cent in 2023 to 2.4 per cent in 2024, trending below the pre-pandemic growth rate of 3.0 per cent, according to the United Nations World Economic Situation and Prospects (WESP) 2024. This latest forecast comes on the heels of global economic performance exceeding expectations in 2023. However, last year’s stronger-than-expected GDP growth masked short-term risks and structural vulnerabilities. 

The UN’s flagship economic report presents a sombre economic outlook for the near term. Persistently high interest rates, further escalation of conflicts, sluggish international trade, and increasing climate…

Capacity Development, Economic Analysis and Policy, Financing for Development, Forest, Gender, Intergovernmental Coordination, Population, Public Administration, Social Development, Statistics, Sustainable Development

The UN DESA Annual Highlights report is a tool to communicate the contributions of the Department to the realization of internationally agreed development goals and shared social, economic, and environmental aspirations. It showcases the Department’s role in gauging trends, building capacities, and shaping solutions. UN DESA Highlights 2022-2023 covers activities over the period of the 77th Session of the General Assembly (September 2022 – August 2023) and reflects the Department’s response to the set priorities and expressed needs of Member States. Seven (7) thematic chapters showcase how UN DESA put its expertise to the task of supporting Member State efforts to implement the 2030…

Sustainable Development

Times of Crisis, Times of Change: Science for Accelerating Transformations to Sustainable Development", the 2023 Global Sustainable Development Report (GSDR), finds that at this critical juncture, midway to 2030, incremental and fragmented change is insufficient to achieve the Sustainable Development Goals (SDGs) in the remaining seven years. Implementation of the 2030 Agenda requires the active mobilization of political leadership and ambition for science-based transformations. This must be achieved globally - leaving no country, society or person behind. The report is an invitation to embrace transformations with the urgency needed to accelerate progress towards the SDGs.

The…

Statistics, Sustainable Development

According to The Sustainable Development Goals Report 2023: Special Edition, failure to redouble global efforts to achieve the Sustainable Development Goals – the promise of a better world for all – may fuel greater political instability, upend economies and lead to irreversible damage to the natural environment.

World leaders made a historic promise to secure the rights and well-being of everyone on a healthy, thriving planet when they agreed to the 2030 Agenda for Sustainable Development and its 17 SDGs in 2015. However, the combined impacts of the climate crisis, the war in Ukraine, a gloomy global economic outlook and lingering effects of the COVID-19 pandemic have revealed…

Economic Analysis and Policy

Prospects for a robust global economic recovery remain dim amid stubborn inflation, rising interest rates and heightened uncertainties. Instead, the world economy faces the risk of a prolonged period of low growth as the lingering effects of the COVID-19 pandemic, the ever-worsening impact of climate change and macroeconomic structural challenges remain unaddressed, according to the World Economic Situation and Prospects as of mid-2023 released today.

According to the report, the world economy is now projected to grow by 2.3 per cent in 2023 (+0.4 percentage points from the January forecast) and 2.5 per cent in 2024 (-0.2 percentage points), a slight uptick in the global growth…

Financing for Development, Sustainable Development

Sustainable development prospects continue to diverge between developed and developing countries. The 2023 Financing for Sustainable Development Report finds that SDG financing needs are growing, but development financing is not keeping pace. The war in Ukraine, sharp increases in food and energy prices, and rapidly tightening financial conditions have increased hunger and poverty and reversed progress on the SDGs. If left unaddressed, a “great finance divide” will translate into a lasting sustainable development divide.

Stakeholders must maintain a long-term focus on resilient and inclusive development, while addressing near-term crises. Delaying investment in sustainable…

Economic Analysis and Policy

A series of severe and mutually reinforcing shocks — the COVID-19 pandemic, the war in Ukraine and resulting food and energy crises, surging inflation, debt tightening, as well as the climate emergency — battered the world economy in 2022. Against this backdrop, world output growth is projected to decelerate from an estimated 3.0 per cent in 2022 to 1.9 per cent in 2023, marking one of the lowest growth rates in recent decades.

The World Economic Situation and Prospects 2023 presents a gloomy and uncertain economic outlook for the near term. Global growth is forecast to moderately pick up to 2.7 per cent in 2024 as some of the headwinds will begin to subside. However, this is…

Statistics, Sustainable Development

The Sustainable Development Goals Report 2022 provides a global overview of progress on the implementation of the 2030 Agenda for Sustainable Development, using the latest available data and estimates. It tracks the global and regional progress towards the 17 Goals with in-depth analyses of selected indicators for each Goal.

According to the Report, cascading and interlinked crises are putting the 2030 Agenda for Sustainable Development in grave danger, along with humanity’s very own survival. The Report highlights the severity and magnitude of the challenges before us. The confluence of crises, dominated by COVID-19, climate change, and conflicts, are creating spin-off impacts on…

Economic Analysis and Policy

Global growth prospects have weakened significantly amid the war in Ukraine, rising energy, food and commodity prices, soaring inflation and tightening monetary policy stances by major central banks. The world economy is projected to grow by 3.1 per cent in 2022, marking a downward revision of 0.9 percentage points from our previous forecast released in January 2022. The baseline forecast faces significant downside risks from further intensification of the war in Ukraine and potential new waves of the pandemic.

Growth forecasts for the United States, European Union and China have been revised downward, with the European Union registering the most significant downward revision. The…

Population, Sustainable Development

Global Population Growth and Sustainable Development probes the linkages between global population growth and the social, economic and environmental dimensions of sustainable development. The report examines how the current rapid growth of the human population is a consequence of the demographic transition from high to low levels of mortality and fertility. The report reviews the connections between population growth and key aspects of social and economic development, including poverty, hunger and malnutrition, health, education, gender equality, economic growth and decent work. It also explores the contribution of global population increase to environmental degradation, including…

Economic Analysis and Policy

The global economic recovery is facing significant headwinds amid new waves of COVID-19 infections, persistent labour market challenges, lingering supply-chain challenes and rising inflationary pressures. After expanding by 5.5 per cent in 2021, the global output is projected to grow by only 4.0 per cent in 2022 and 3.5 per cent in 2023, according to the United Nations World Economic Situation and Prospects (WESP) 2022.

The robust recovery in 2021 – driven by strong consumer spending and some uptake in investment, with trade in goods surpassing pre-pandemic levels — marked the highest growth rate in more than four decades, the Report highlighted. Yet the momentum for growth –…

Statistics, Sustainable Development

More countries and communities are recognizing the need to bolster efforts to achieve the Sustainable Development Goals (SDGs) in light of the toll the COVID-19 pandemic has taken on people around the world, according to The Sustainable Development Goals Report 2021, released by the United Nations.

The decisions and actions taken during the next 18 months would determine whether pandemic recovery plans would put the world on a course to reach the globally-agreed upon goals that aim to boost economic growth and social well-being while protecting the environment.

According to the report, which tracks global efforts to achieve the SDGs, COVID-19 had caused a major disruption…