Document_GEM: World Economic Situation and Prospects (WESP) report

World Economic Situation and Prospects (WESP) report

The global economic recovery is facing significant headwinds amid new waves of COVID-19 infections, persistent labour market challenges, lingering supply-chain challenges and rising inflationary pressures.

While the global growth outlook has improved, led by robust rebound in China and the United States, surging COVID-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy.

Selon les dernières prévisions des Nations Unies, publiées aujourd’hui, si les perspectives de croissance mondiale s’améliorent, une recrudescence du nombre de personnes contaminées par la COVID-19 menacent une relance générale de l’économie mondiale.

التعافي الاقتصادي مهدد بالفشل وسط تصاعد عدد حالات كوفيد وتأخر عمليات التلقيح في الدول الفقيرة

较贫穷国家2019 冠状病毒病例剧增且疫苗接种滞后,危及全球经济复苏

Восстановление экономики под угрозой в условиях увеличения количества случаев заражения COVID и отставания в вакцинации в более бедных странах

The pandemic reached every corner of the world, infecting more than 90 million and, so far, has killed close to 2 million people worldwide. The crisis responses, however, entailed difficult choices between saving lives and saving livelihoods, between speed of delivery and efficiency, and between short-term costs and long-term impacts.

GDP growth in developed countries will plunge to –5.0 per cent in 2020, while output of developing countries will shrink by 0.7 per cent. The projected cumulative output losses during 2020 and 2021—nearly $8.5 trillion—will wipe out nearly all output gains of the previous four years. The pandemic has unleashed a health and economic crisis unprecedented in scope and magnitude.

The global economy has suffered a significant slowdown amid prolonged trade disputes and wide-ranging policy uncertainties. Economists warn that economic risks could inflict severe and long-lasting damage on development prospects.

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