UN Forecasts Global Economic Growth around 3 Percent in 2019

The U.N. forecasts the global economy growing by around 3 percent over the next two years, but says waning support for multilateralism, escalating trade disputes, increasing debt and rising climate risks are clouding prospects. | Photo: WDIO-TV

Associated Press
Updated: January 21, 2019 03:55 PM

UNITED NATIONS (AP) - The United Nations is forecasting that the global economy will grow by around 3 percent in 2019 and 2020, but says waning support for multilateralism, escalating trade disputes, increasing debt and rising climate risks are clouding prospects.

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The U.N.'s report on the World Economic Situation and Prospects 2019 also stresses that economic growth is uneven and often doesn't reach countries that need it most.

Per capital income is expected to stagnate or see only marginal growth this year in parts of Africa, western Asia, Latin America and the Caribbean.

U.N. Secretary-General Antonio Guterres says in the forward of the report launched Monday that while economic indicators remain "largely favorable," the report "raises concerns over the sustainability of global economic growth in the face of rising financial, social and environmental challenges."