The global economic recovery faces significant obstacles amid new waves of COVID-19 mutations. After expanding by 5.5 percent in 2021, global output is projected to grow by only 4 percent in 2022 and 3.5 percent in 2023, according to the United Nations' World Economic Situation and Prospects (WESP) 2022 report released on Thursday.
The strong recovery in 2021, driven by strong consumer spending and some investment absorption, with trade surpassing pre-pandemic levels, saw the strongest growth, a rate that exceeded that of the previous four decades, the report highlights.
(CNA)
CNA - Meropi Kyriakou
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