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UN Improves Forecast of Global Economic Growth for Current Year

  •  World

The United Nations Conference on Trade and Development (UNCTAD) has improved its forecast for global economic growth in 2021 to 4.7%, according to the UNCTAD report. 

The September forecast provided for an increase of 4.3%.

Experts predict that global economic growth by the end of this year will still be 5% below the trend that existed before the COVID-19 pandemic. Assuming this trend continues in 2020 and 2021, the pandemic will be worth $ 10 trillion by the end of this year, the report said.

According to UNCTAD, the main blow to the global economy is being felt in developing countries with limited budget space and insufficient international support.

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