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, launched today. 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. Read more

The global partnership for development, as crystallized in Millennium Development Goal 8, has played a crucial role in galvanizing international support for development. Given the global challenges at hand, there is an urgent need for true collective action from all countries to create an enabling environment for development at all levels. The latest report of the UN System Task Team on the Post-2015 UN Development Agenda provides a set of recommendations on the global partnership for development in the post-2015 era. Read more

Growth of the world economy has weakened considerably during 2012 and is expected to remain subdued in the coming two years. The global economy is expected to grow at 2.4 per cent in 2013 and 3.2 per cent in 2014 a significant downgrade from the UN’s forecast of half a year ago. The report also foresees a much slower pace of poverty reduction in many developing countries and a narrowing fiscal space for investments in critical areas for achieving the MDGs. Read more