UN forecasts 4 7% global economic growth in 2021 thezimbabwemail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thezimbabwemail.com Daily Mail and Mail on Sunday newspapers.
The Associated Press
UNITED NATIONS The United Nations warned Monday that the world economy is “on a cliffhanger,” still reeling from the COVID-19 pandemic whose impact will be felt for years but still expected to make a modest recovery of 4.7% in 2021 which would barely offset 2020 losses.
The U.N.’s new report on the World Economic Situation and Prospects said the once-in-a-century crisis sparked by the global impact of the coronavirus caused the global economy to shrink by 4.3% in 2020 the sharpest contraction in global output since the Great Depression that began in 1929 and far higher than the 1.7% reduction during the Great Recession of 2009.
The World Economic Situation and Prospects report by the U.N. Department of Economic and Social Affairs said developed economies shrank by 5.6 percent in 2020 are projected to recover 4 percent, while developing countries contracted 2.5 percent and are estimated to grow 5.7 percent in 2021.
International Business: World economy expected to barely regain 2020 losses in 2021: UN report gdnonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gdnonline.com Daily Mail and Mail on Sunday newspapers.
The United Nations is warning that the world economy is “on a cliffhanger,” still reeling from the COVID-19 pandemic whose impact will be felt for years