Document_GEM: World Economic Situation and Prospects (WESP) mid-year update

World Economic Situation and Prospects (WESP) mid-year update

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

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.

Global growth outlook has weakened, amid unresolved trade tensions and elevated international policy uncertainty, according to the World Economic Situation and Prospects as of mid-2019. Across both developed and developing countries, growth projections for 2019 have been downgraded. 

Short-term prospects for the world economy have continued to improve, according to the World Economic Situation and Prospects as of mid-2018. World gross product is expected to expand by 3.2 per cent in both 2018 and 2019, marking an upward revision from forecasts released in December 2017.

The mid-year update of the World Economic Situation and Prospects 2017 confirms the projections made in January 2017 of a modest recovery in global growth for 2017-2018. Helped by a moderate recovery in trade and investment, world gross product is expected to expand by 2.7% in 2017 and 2.9% in 2018. While this marks a notable acceleration compared to 2016, growth in many regions remains below the levels needed for rapid progress towards achieving the Sustainable Development Goals.

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