COVID-19, the war in Ukraine and resulting food and energy crises, surging inflation, debt tightening, and the climate emergency battered the world economy in 2022. World output growth is projected to decelerate from 3% in 2022 to 1.9% in 2023, one of the lowest growth rates in recent decades, according to the . The flagship report of DESA presents an uncertain economic outlook. Global growth is forecast to moderately pick up to 2.7% in 2024 as some of the headwinds will begin to subside, but stronger international cooperation is imperative.
Economic Development
The world’s least developed countries (LDCs) are in a race to deliver crucial global development goals by 2030. The 5th United Nations Conference on Least Developed Countries, held in Doha, Qatar on 5-9 March 2023, will identify actions and partnerships to deliver on this agenda.
We are witnessing an ongoing collision of crises for which traditional response and recovery are not enough. Our future is at stake, as wars, epidemics, the climate emergency and economic upheaval leave almost no country untouched. Emerging from crisis depends on development. Development must be invested in, systematically and comprehensively. Multilateralism and development cooperation have never been more important. The complexity of the path ahead makes it imperative to act together, in partnership. is always building on its partnerships and decades of experience in countries.
Global growth is slowing down sharply in the face of elevated inflation, higher interest rates, reduced investment, and disruptions caused by Russia’s invasion of Ukraine, says the World Bank's latest . The report provides global, regional, and country economic forecasts for the next two years. It offers the first comprehensive assessment of the medium-term outlook for investment growth in emerging market and developing economies and sheds light on the dilemma of 37 small states, with a population of 1.5 million or fewer.
As an unstable and uneven economic recovery took form during 2022, global development faced a crisis. A global vaccination effort helped countries begin emerging from the pandemic. Food inflation and food insecurity rose significantly throughout the year, exacerbated by climate change and Russia’s invasion of Ukraine - contributing to higher food, fuel, and fertilizer prices. To combat these multiple crises and help contribute to a more stable and equitable recovery, the worked to support countries to meet their greatest needs. Below is a snapshot of this work in nine charts.
Following a for two years in a row, human development has fallen back to 2016 levels, reversing much of the world’s progress towards the Sustainable Development Goals. International Human Solidarity Day provides an opportunity for us to come together in solidarity for our global future. It is an occasion to celebrate our unity in diversity and to encourage new initiatives to lift people out of poverty, hunger and disease. Human solidarity is at the core of the work of the United Nations. You can help us to help more.
The global economy is facing heightened risks and financial volatility, with global growth likely to have peaked. Geopolitical factors, trade disputes, financial market volatility and non-economic factors risk further impeding growth, stability and development and worsening poverty, inequality and vulnerabilities. Given the complex and ambitious set of transformations needed, coherence across policy areas is critical, and well-run national development banks can help countries develop financing options for Sustainable Development Goal-related investments.
An essential part of the work on development and the SDGs consists of ensuring public access to information and the protection of fundamental freedoms. The role of the United Nations has been to assist the various national information media, by supplying accurate information from which these media may draw both substance and inspiration for their work. World Development Information Day (24 October) aims to draw the attention of the world to development problems and the need to strengthen international cooperation to solve them.
The global health crisis doubled the wealth of the 10 richest men in the world while sending upwards of 120 million people into extreme poverty. This year’s shows how inequalities and crises reinforce and compound each other, leading to extreme disparity, vulnerability and unsustainability. It argues that this is not the result of a broken system but one in which inequality and injustice are built in by design. The social contract has broken down to the great detriment of people and planet. Join us for the on 21 October in Geneva.
Learn about the key findings from the new "Uncertain Times, Unsettled Lives: Shaping our Future in a Transforming World" through this short animated explainer video.
One of the great lessons of our species is that we can accomplish a lot with very little if we work together. Development is about change; charting new paths forward into the unknown; and transforming our world, according to the 2030 Agenda for Sustainable Development.
Flux is normal. Throughout history, humans have struggled with plagues, war, and political upheaval. Yet, our present uncertain times are different in unprecedented ways. If we don’t feel that our lives are secure, it is because they aren’t. The ’s latest indicates that we are navigating uncharted waters. But . The report suggests three ways to help navigate—and even thrive—in the new uncertainty complex.
The world is facing a series of unprecedented overlapping crises: conflicts, the COVID-19 pandemic and climate change are impacting the poorest and most vulnerable. Decades of development progress are at risk. Learn how the is mobilizing $170 billion for crises response.
announces the winners of the 13th Equator Prize, recognizing ten Indigenous peoples and local communities from nine countries for portraying their own local development goals.
The partial shutoff of Russian natural gas deliveries is already affecting European growth, and a full shutdown could be substantially more severe, according to .
For the past thirty years, the Small Grants Programme (SGP) has been providing financial and technical support to civil society and community-based organizations on innovative community-driven initiatives that address global environmental issues – such as biodiversity loss, climate change mitigation and adaptation, land degradation, international waters, and chemicals and waste management – while improving livelihoods. SGP was sparked by the idea that the active participation of local communities in dealing with critical environmental problems holds the key to promoting effective stewardship of the environment and achieving sustainable development. Mariko Wallen harvests seaweed on her and Louis Godfrey's farm in Placencia, Belize.