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Business

UN Predicts Expanding Global Economic Growth in 2017-2018

The U.N. says the acceleration is underpinned by firm economic growth in many developed countries

The emblem of the United Nations, photo: Wikimedia
4 months ago

UNITED NATIONS – The United Nations is predicting expanding global economic growth in the next two years, spurred by stronger growth in the last six months and a modest recovery in trade and investment.

In its mid-year update released Tuesday, the U.N. said the acceleration is underpinned by firm economic growth in many developed countries and strengthened prospects in countries in transition.


But the U.N. report said “the outlook for some developing regions has deteriorated since January” and “prospects for Africa, in particular, raise concerns.”

It forecast negligible per capital growth in central, southern and west Africa as well as in South America in 2017-2018.

But the U.N. overall forecast global economic growth of 2.7 percent this year and 2.9 percent in 2018 compared with just 2.2 percent in 2016.

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