Editor in Chief: Moh. Reza Huwaida Wednesday, October 17th, 2018

UN Predicts Modest Global Economic Growth over Next two Years

UN Predicts Modest Global Economic Growth over Next two Years

UNITED NATIONS - The world economy is projected to grow by 2.7 percent in 2017 and 2.9 percent in 2018, said a UN report launched here on Tuesday, pointing out that the global economy has not yet emerged from the period of slow growth.
This modest recovery is more an indication of economic stabilization than a signal of a robust and sustained revival of global demand, said the UN annual economic report World Economic Situation and Prospects.
It noted that in 2016, the world economy expanded by just 2.2 percent, the slowest rate of growth since the Great Recession in 2009.
"Underpinning the sluggish global economy are the feeble pace of global investment, dwindling world trade growth, flagging productivity growth and high levels of debt," said the report.
The report noted that global economic prospects remain subject to significant uncertainties and risks that are weighted on the downside, with the potential to obstruct the modest growth forecast for 2017-18.
It said among the uncertainties are interest rate rises in the United States, the forthcoming changes by the new administration of the United States to international trade policies as well as Brexit and its potential implications for free movement of goods and workers in Europe. (Xinhua)