Publish dateThursday 26 January 2023 - 14:14
Story Code : 264385
United Nations: In 2023, the world will face a decline in economic growth
The United Nations has predicted that the growth of the world economy in the current year of 2023 will significantly decrease to 1.9 as a result of the food and energy crisis caused by the war in Ukraine, the ongoing impact of the corona pandemic, persistently high inflation and the climate emergency.
Afghan Voice Agency (AVA) - Kabul: The Associated Press wrote on Wednesday night (January 25, 2023) that the United Nations Department of Economic and Social Affairs, drawing a dark and uncertain economic outlook, said that the current slowdown in the world economy "both developed countries and developing countries it will hamper development and many are at risk of recession in 2023.” In the UK, GDP is forecast to fall by 0.8% in 2023.
In the foreword of the 178-page report, UN Secretary-General Antonio Guterres wrote: "A sharp and widespread decline in the global economy amid high inflation, aggressive monetary contraction and increased uncertainty will be the headlines of future global developments."
The World Bank, which lends to poorer countries for development projects, nearly halved its growth forecast in its annual report earlier this month, down from a previous forecast of 3 percent to 1.7 percent.
International Monetary Fund Managing Director Kristalina Georgieva said at last week's World Economic Forum in Davos that 2023 will be a tough year, but added: "We don't expect a global recession."
According to the United Nations report, this year "the acceleration of growth in the United States, the European Union and other developed economies has weakened, negatively affecting the rest of the world economy."
In the United States, gross domestic product is expected to grow just 0.4 percent in 2023, after growing 1.8 percent in 2022, according to the United Nations.
Many European countries are also expected to experience a "mild recession". The Ukraine war, soon to enter its second year, has seen high energy costs, inflation and tighter financial conditions undermine the consumption and investment patterns of European households.
However, Martin Griffiths, the United Nations Under-Secretary-General for Humanitarian Affairs, said in a meeting with the Administrative Deputy of the Islamic Emirate's Ministry of Foreign Affairs that they plan to provide 4.6 billion dollars to 28 million Afghans in 2023.
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