That Global economy will continue to brake and will grow 2.4 percent 2023 after reaching 3 percent in 2022, today reports the latest economic forecast from United Nations Conference on Trade and Development (UNCTAD)who continues to revise his calculations from six months ago by three tenths and above.

Next for 2024 agency of United Nations anticipating a slight recovery in the world economy, which he estimates will grow 2.5 percent.

​In general, that is UNCTAD warned of “slowing growth in most regions compared to last year and few countries bucking the trend,” incl MexicoBrazil, RussiaChina or Japan.

On the old continent, the report warns of a European Union “on the verge of recession” and revised its forecast from half a year ago even further downwards: if they predicted that Twenty-seven would grow by 0.7 percent, they have now reduced the figure to 0.4 percent, when in 2022 the increase GDP regionally by 3.4 percent.

The report predicts a recovery this year 2024year in which growth GDP in the European Union the figure will be 1.2 percent, always according to reports.

German recession

On the European continent German you will see yours GDP 0.6 percent in 2023, while there will be a slight increase in France (0.9 percent), Italy (0.6 percent), great Britain (0.4 percent) and higher in Russia (2.2 percent), the country benefited compared to last year’s poor figures, when its economy fell 2.1 percent as it was more impacted by sanctions.

“Stagnation or decline in real wages across the continent, coupled with fiscal austerity, is slowing growth,” the agency’s experts said. United Nations.

America

For all of America UNCTAD estimates economic growth of 2 percent, nine-tenths higher than forecast in April thanks to notable upward revisions in countries such as United States, Mexico or Brazil, although the figure will slow to 1.8 percent in 2024, a similar figure for major regional economies, United States of America (2 percent this year, 1.9 percent next year).

“Despite rising interest rates, the United States economy has defied the most negative predictions, and has so far experienced a moderate economic slowdown,” the report analyzed.

That UNCTAD This was caused by high US consumer spending, resistance to fiscal austerity, and active monetary intervention to stop the crisis that several banks experienced at the beginning of the year.

In the Latin America The organization forecasts slightly higher growth of 2.3 percent (one point higher than forecast in April), which will fall to 1.8 percent next year, although the situation in the region’s major economies will be very dire. equally.

Good prospects for Brazil

Yes, stop Mexico estimates growth this year of 3.2 and 2.1 percent next year Argentina estimates a GDP decline of 2.4 percent this year and 0.6 percent next year; Brazil Meanwhile, the country’s economy will experience a significant increase of 3.3 percent in 2023 (2.4 points higher than estimated in April) and 2.3 percent in 2024.

For ChinaThat UNCTAD revised this year’s growth by two-tenths down (4.6 percent) although it expects an acceleration to 4.8 percent next year, at a time when the Asian giant is “showing signs of recovery compared to last year.” 2022but faces weak domestic consumer demand and private investment.”

“However, China has more fiscal policy space than other large countries to address these challenges,” he said. UNCTADwhich is in the case of neighbors Japan estimates that the national economy will progress by 2.3 percent in 2023 and only 0.9 percent in 2024.

At the global level, UNCTAD recommends “institutional reform in the global financial architecture, more pragmatic policies to address inflation, inequality and sovereign debt, and stronger oversight of key markets.”

“To protect the global economy from systemic crises in the future, we must avoid the policy mistakes of the past and adopt a positive reform agenda,” stressed the UN Secretary General when releasing the report. UNCTADRebeca Grynspan from Costa Rica.

MRA