The United Nations has recorded the lowest in 10 years, the growth rate of the world economy
This is stated in the UN report “world economic situation and prospects for 2020”, announced in the headquarters of UN in new York.
Last year, according to the report, the increase was 2.3%.
“But the world may be a slight recovery in economic activity in 2020, with growth of 2.5%. But the worsening of relations in trade, financial turmoil or escalation of geopolitical tensions could derail the resumption of growth,” – said, introducing the report, chief economist of the UN assistant Secretary-General for economic development Elliot Harris.
According to him, in the adverse scenario, world growth will fall to 1.8%. Prolonged weakness in global economic activity may cause significant obstacles to sustainable development, in particular to overcome poverty and create jobs.
At the same time, according to the report, inequality and the deepening climate crisis fueling discontent in many parts of the world.
In the United States, given the political uncertainties, lack of business confidence and the weakening of fiscal stimulus, the expected reduction in GDP growth from 2.2% in 2019 to 1.7% in 2020.
Production in EU, as before, will be constrained by global uncertainty, but partly this will be offset by steady growth in private consumption, which will help to increase the GDP growth from 1.4% in 2019 to 1.6% this year.
According to the report, the fastest will be developed East Asian countries, which will serve as a significant source of global growth. In China predicted a gradual slowdown in GDP growth from 6.1% in 2019, to 6% in 2020 and 5.9% in 2021. It is also expected some economic growth in major developing countries, in particular Brazil, India, Mexico and Turkey.
The economic downturn is expected in Venezuela, Argentina, Ecuador, Namibia, Angola, Zambia, Sudan, Iran, Oman.
In Ukraine, experts predict growth of 2 to 5% per capita.