Document_GEM: World Economic Situation and Prospects (WESP) report

World Economic Situation and Prospects (WESP) report

Although global economic growth outperformed expectations in 2023 with several large economies showing remarkable resilience, simmering geo-political tensions and the growing intensity and frequency of extreme weather events have increased underlying risks and vulnerabilities. Furthermore, tight financial conditions also pose increasing risks to global trade and industrial production.
The world economy is in the doldrums, with weak economic growth, stubborn inflation and rising interest rates in the major developed economies clouding the near-term economic outlook. Legacy effects of the COVID-19 pandemic, the protracted war in Ukraine, exacerbating effects of climate change are impeding a rebound of global growth.
As we enter May 2023, the global economic situation remains highly uncertain amid an extraordinary confluence of recent shocks that have affected countries across the world.
Multiple shocks to the world economy The world continues to confront multiple, inter-connected crises. Amid a slow recovery from the impact of the COVID-19 pandemic, the world is facing a food and energy crisis exacerbated by the war in Ukraine, with r ...
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 Economic Situation and Prospects as of mid-2022, set to be released on 18 May 2022, will delve into the multitude of local, regional, and global economic consequences of the current war in Ukraine. The war, which erupted in February 2022, has ...
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.
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