World Economic Situation and Prospects 2019: Key Facts
The United Nations report World Economic Situation and Prospects 2019 has been released. The important findings of the report are:
- The report estimates that Global growth is expected to remain steady at 3% in 2019 and 2020, after an expansion of 3.1% in 2018.
- As the impulse from fiscal stimulus in 2018 wanes, Growth in the United States is projected to decelerate to 2.5% in 2019 and 2% in 2020.
- The European Union would witness a steady growth of 2%, even though risks are tilted to the downside, including a potential fallout from Brexit.
- China’s growth is expected to moderate from 6.6% in 2018 to 6.3% in 2019 since policy support would partly offset the negative impact of trade tensions.
- Large commodity-exporting countries, such as Brazil, Nigeria and the Russian Federation, are projected to see a moderate pickup in growth in 2019–2020, albeit from a low base.
The World Economic Situation and Prospects 2019 predicts that a worrisome combination of development challenges could further undermine growth. The report expresses concerns over the sustainability of global economic growth in the face of rising financial, social and environmental challenges.