UN cites conflicts, climate disasters in somber 2024 global economic forecast
UN's Economic Outlook: Addressing Climate-Related Challenges
In PBS News' recent coverage by Edith Lederer, the United Nations presents a cautious outlook for the global economy in 2024. Amidst escalating conflicts and sluggish trade, the report underscores the profound impact of climate disasters on economic stability. While global growth projections remain below pre-pandemic levels, concerns over inflation and borrowing costs persist. The UN warns of the economic repercussions of climate change, highlighting disruptions to global supply chains and agricultural output. Despite efforts to avert recession, volatility in the environment poses significant risks, potentially fueling inflation and impacting economic growth worldwide. Moreover, the report highlights regional disparities in economic performance, with developing regions facing particular challenges. Africa, for instance, grapples with weak economic growth amid climate-related agricultural disruptions and geopolitical instability. Similarly, East Asian economies anticipate a moderate slowdown, while South Asia's growth trajectory remains robust, led by India's expansion.
