Output of emerging market and developing economies (EMDEs) is expected to contract in 2020 for the first time in at least 60 years. It will also do lasting damage to labor productivity and potential output. } Global coordination and cooperation will be critical. } color: #000; }
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World gross product is … Economic disruptions are likely to be more severe and protracted in those countries with larger domestic outbreaks, greater exposure to international spillovers (particularly through exposure to global commodity and financial markets, global value chains, and tourism), and larger pre-existing challenges such as informality. line-height: 17px; Agricultural commodity exporters are also expected to experience a collapse in economic activity this year as foreign direct investment and tighter financial conditions delay investment. Click on the button to download data into Excel. India Outbound is an online magazine that narrates and shapes the Indian growth storyThe sustainability of global economic growth is a cause of concern given the rising financial, social and environmental challenges. infrastructure.Economy Division, Resources and Markets Branch, 11-13, Chemin des Anémones, 1219 Châtelaine, Geneva, SwitzerlandDeutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), Friedrich-Ebert-Allee 36 + 40, 53113 Bonn, GermanyShifting Gears: How the world’s leading financial centres are entering a new phase of strategic action on green and sustainable finance (UNEP & FC4S Network)
Among major economies of the region, Malaysia (-3.1%), the Philippines (-1.9%), and Thailand (-5%) are forecast to experience the biggest contractions this year.
} right: 3em; The global economy is facing a confluence of risks, which could severely disrupt economic activity and inflict significant damage on longer-term development prospects. It […] Beyond its short-term impact, deep recessions triggered by the pandemic are likely to leave lasting scars through multiple channels, including lower investment; erosion of the human capital of the unemployed; and a retreat from global trade and supply linkages. Economic activity among oil importers is expected to contract by 0.8% in 2020, as tourism and exports decline. Factors like weak governance, poor institutional quality and lack of diversification exacerbate these economic uncertainties and barricade socio-economic development. border: 1px #ccc solid; #content ul.sidebar-filtered-attachment { /* Crop Default Image */ Attached is the UN’s Department of Economic and Social Affairs’ The report 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. /* Content Template: Publications Template Default - end */ The current global recession is also unique in that global growth forecasts have been revised down more steeply and rapidly than in any other recessions since at least 1990. margin: 0 0 3px 0; Pakistan (-2.6% in FY 2019/20) and Afghanistan (-5.5%) are both projected to experience contractions, as mitigation measures are anticipated to weigh heavily on activity. According to the UN's World Economic Situation and Prospects (WESP) 2019, India will continue to remain the world's fastest-growing large economy in 2019 as well as in 2020.. Many developing economies are falling behind due to their heavy dependence on commodities, in terms of export revenue and financing fiscal expenditure. These vulnerabilities have amplified the economic shock to livelihoods from COVID-19 and threatened to throw large numbers of people into extreme poverty. /* ----------------------------------------- */ } } } top: 150px; font-size: .8em; /* ----------------------------------------- */ font-size: 2em; COVID-19 will take an especially heavy humanitarian and economic toll on emerging markets and developing economies (EMDEs) with large informal sectors. display: none; #content ul.sidebar-filtered-attachment p.download-label { The United Nations recently released the World Economic Situation and Prospects Report, 2020. Global coordination and cooperation will be critical. footer { font-size: 12px; font-size: 14px; #sdg-icon-image img.attachment-full.native-size { } a.rsswidget { The United Nations report World Economic Situation and Prospects 2019 has been released. Like other countries, energy-exporting emerging m...
The World Economic Situation and Prospects 2019 offers timely warnings about a range of macroeconomic challenges facing policymakers as they aim to deliver on the 2030 Agenda for Sustainable Development.. Last year’s report noted that after a long period of stagnation, the world economy was strengthening, creating opportunities to reorient policy towards the longer-term pursuit … Once the crisis abates, it will be necessary to reaffirm a credible commitment to sustainable policies and undertake the reforms necessary to buttress long-term prospects. In addition, a comprehensive reform drive is needed to reduce the adverse impact of the pandemic on long-term growth prospects by improving governance and business environments, and expanding investment in education and public health. stresses that high trade tensions and policy uncertainty continue to damage It is also critical to address the challenges posed by informality and limited safety nets and undertake reforms that enable strong and sustainable growth.The rapid rise of COVID-19 cases, together with the wide range of measures to slow the spread of the virus, has slowed economic activity precipitously in many EMDEs.