UN forecasts fall in global economic growth to 1.9% in 2023

By EDITH M. LEDERER
Associated Press

UNITED NATIONS (AP) — The United Nations is forecasting that global economic growth will fall significantly to 1.9% this year. That’s due to factors including the food and energy crisis sparked by the war in Ukraine, the impact of the COVID-19 pandemic, persistently high inflation and the climate emergency. The UN’s report Wednesday says the global economic slowdown “cuts across both developed and developing countries, with many facing risks of recession in 2023.” The U.N. calls the 1.9% economic growth forecast this year one of the lowest in recent decades. But it projected a moderate pick-up to 2.7% in 2024.