The world economy stumbled in 2015 and only a modest improvement is projected for 2016/17 as a number of cyclical and structural headwinds persist, says the United Nations World Economic Situation and Prospects (WESP) 2016 report.

Global growth is estimated at a mere 2.4 per cent in 2015, marking a downward revision by 0.4 percentage points from the UN forecasts presented six months ago. Amid lower commodity prices, large capital outflows and increased financial market volatility, growth in developing and transition economies has slowed to its weakest pace since the global financial crisis of 2008/2009.

Given the much anticipated slowdown in China and persistently weak…

The Millennium Development Goals (MDGs) achieved significant progress over the past 15 years, but persistent gaps in official development assistance and an insufficient access to markets, affordable medicines and new technologies have highlighted the need for a rejuvenation of the global partnership for development, according to a new report launched today by United Nations Secretary-General Ban Ki-moon.

The “Taking Stock of the Global Partnership for Development” report of the United Nations MDG Gap Task Force monitors the recent achievements and challenges in the implementation of the Millennium Development Goal 8, while looking ahead towards the new…

Global economic growth is forecast to increase marginally over the next two years, according to the United Nations World Economic Situation and Prospects 2015 (WESP) report.The global economy is expected to grow 3.1 per cent in 2015 and 3.3 per cent in 2016, compared with an estimated growth of 2.6 per cent for 2014.

The global economy expanded during 2014 at a moderate and uneven pace. Legacies from the global financial crisis continue to weigh on growth, while new challenges have emerged, including geopolitical conflicts such as in Ukraine and the Ebola epidemic.

Unemployment figures remain historically high in some regions, but appear to have stopped rising. While…

Global economic growth should increase over the next two years with continuing signs of improvement, according to the United Nations World Economic Situation and Prospects 2014 (WESP) report. The global economy is expected to grow at a pace of 3.0 per cent in 2014 and 3.3 per cent in 2015, compared with an estimated growth of 2.1 per cent for 2013.

The world economy experienced subdued growth for a second year in 2013, but some improvements in the last quarter have led to the UN’s more positive forecast. The euro area has finally ended a protracted recession. Growth in the United States strengthened somewhat. A few large emerging economies, including China and India,…

The experience from the Millennium Development Goals has shown that well-defined, objectively measurable indicators can help to maintain focus on internationally agreed development goals and targets, while keeping the world informed of achievements, problem areas and emerging issues.

Looking ahead to the post-2015 development agenda, it will be important to develop a robust monitoring system that draws on traditional data collection methods and innovations in statistics and data collection to develop a monitoring framework that can measure progress on the various thematic areas.

While it is still too early to define a set of indicators and targets for the development…

New strategies are needed to address the impacts of rapid urbanization around the world, including increasing demands for energy, water, sanitation, public services, education and health, according to the World Economic and Social Survey 2013.

The 2013 Survey examines the many challenges that must be addressed to achieve sustainable development. The United Nations Conference on Sustainable Development—Rio+20--set out a framework for action and follow-up across a wide range of issues and the Survey zooms in on three critical challenges – food security, energy transformation and sustainable cities.

According to the Survey produced by the UN Department for Economic and Social…

Global economic activity is projected to slowly gain momentum, but growth will continue to be below potential and employment gains will remain weak, says the UN report. It notes that since late 2012, new policy initiatives in major developed economies have reduced systemic risks and helped stabilize consumer, business and investor confidence, but with very limited improvement on economic growth.

“The main priority for policy makers worldwide should be to support a robust and balanced global recovery, with a focus on promoting job creation,” said Shamshad Akhtar, UN Assistant Secretary-General for Economic Development.

Global growth has been revised slightly downward…

The World Economic Situation and Prospects 2013 presents a post-crisis world economy still struggling with continued weakening growth of 2.2 per cent in 2012. It projects disappointing global growth of 2.4 per cent in 2013 and 3.2 per cent in 2014 in the face of major uncertainties and downside risks. A much slower pace of poverty reduction is predicted in many developing countries and narrowing fiscal space for investments in the many critical areas needed for achieving the Millennium Development Goals. The World Economic Situation and Prospects 2013 calls for more forceful and concerted policy action at the global level, identifying fiscal and employment policies,…

In its 2012 Report, the MDG Gap Task Force has had difficulty identifying areas of significant new progress towards delivering on commitments to the Global Partnership for Development, and for the first time there are signs of backsliding. The volume of official development assistance (ODA) fell for the first time in many years, obstacles to exports from developing countries are on the rise, and numerous developing countries are facing debt difficulties.

With less than three years until 2015, there is no apparent commitment by donor Governments to reverse the trend in time, and it is likely that fewer MDGs will be reached in fewer countries as a result.

The Report finds…

The world economy is on the brink of another major downturn. Global economic growth started to decelerate on a broad front in mid-2011 and is estimated to have averaged 2.8 per cent over the last year. This economic slowdown is expected to continue into 2012 and 2013. The United Nations baseline forecast for the growth of world gross product (WGP) is 2.6 per cent for 2012 and 3.2 per cent for 2013, which is below the pre-crisis pace of global growth.

Persistent high unemployment in the United States and low wage growth are holding back aggregate demand and, together with the prospect of prolonged depressed housing prices, this has heightened risks of a new wave of home…

If the Millennium Development Goals (MDGs) are to be achieved, a serious shortfall in funding must be addressed. This is the stark revelation of the UN’s MDG Gap Task Force report, released today in New York. Introducing the report, UN Secretary-General Ban Ki-moon underlined the importance of the report’s findings, saying “we cannot afford to leave the poor even further behind.”

Nothing short of a technological revolution on the scale of the first industrial revolution will be required to meet the challenge of sustainable development. Enormous improvements in human welfare have taken place over the past two centuries, but at a lasting cost of degradation of our natural environment. Continuation along established economic growth paths means that the Earth's capacity to ensure human welfare and serve as a sink for the waste and pollution generated in the creation of that welfare will be exceeded.

The World Economic and Social Survey 2011 analyses the challenges and options involved in shifting to a "green economy" based on more efficient and renewable…