Africa-Press – Mauritius. The global economy is improving but persistent challenges remain, including high interest rates, debt sustainability issues, geopolitical tensions and ever-worsening climate risks, according to a recent report by the UN.
The report, titled World Economic Situation and Prospects as of mid-2024, indicates that major economies have managed to avoid a severe downturn and have successfully curbed inflation without increasing unemployment.
Global economic growth is projected to reach 2.7% in 2024, up by 0.3 percentage point from previous estimates in January, with a further increase to 2.8% in 2025, improving 0.1 percentage point.
The improved outlook is attributed to a better outlook in the US and several large emerging economies including Brazil, India and Russia.
Despite a global disinflationary trend, many developing economies still face high inflation, elevated borrowing costs and currency pressures.
Additionally, stagnant employment situations and lingering political instability in developing economies pose further challenges.
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