World Economic Situation and Prospects as of mid-2017

Integration and the 2030 Agenda – what does it really mean?

16 May 2017

PDF document available at: https://www.un.org/development/desa/dpad/wp-content/uploads/sites/45/publication/WESP2017_mid-year_update.pdf https://www.un.org/development/desa/dpad/wp-content/uploads/sites/45/publication/WESP_mid-2017_Press_Release_E.pdf

The mid-year update of the World Economic Situation and Prospects 2017 confirms the projections made in the World Economic Situation and Prospects 2017 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.

Average growth of 4.7% in 2017 and 5.3% in 2018 is forecast for Least Developed Countries (LDCs), well below the Sustainable Development Goal (SDG) target of at least 7 per cent GDP growth. Under the current growth trajectory and assuming no changes in income inequality, nearly 35% of the population in LDCs, highly-indebted poor countries and countries in fragile and conflict affected situations may remain in extreme poverty by 2030.