The United Nations predicts that the world economy will grow by 2.4% this year. As major institutions’ growth forecasts for this year converge to the 2% range, which is lower than last year, there are concerns that global low growth may be prolonged. Korea is predicted to show a growth rate of 2.4%, the same as the global economy.
In the ‘2024 World Economic Situation and Prospects’ report released on the 4th (local time), the United Nations Department of Economic and Social Affairs (DESA) lowered its forecast for this year’s global economic growth rate to 2.4%, down 0.1 percentage points from the report in May last year. The UN’s forecast is somewhat pessimistic compared to the 2024 global economic growth forecast (2.9%) presented by the International Monetary Fund (IMF) in a report last October. The United States was 1.4%, an increase of 0.4 percentage points compared to the previous report, and Japan (1.2%) and China (4.7%) were also each increased by 0.2 percentage points compared to the previous report. Conversely, the European Union’s rate was lowered by 0.3 percentage points to 1.2%, and the UK’s rate was also lowered by 0.7 percentage points to 0.4%. The growth rate forecast for emerging countries was also lowered by 0.2 percentage points from the previous estimate to 4.0%.
The United Nations predicted that the global economic growth rate next year will be 2.7%, slightly higher than this year, but still below the trend before the COVID-19 pandemic (3.0%). The report assessed, “Although the global economy avoided the worst-case scenario of a recession last year, there is a growing possibility that the low growth trend will continue for a long time.”
The United Nations also presented its outlook for Korea in this report. It is predicted that the Korean economic growth rate will be 2.4% this year, a rebound from last year (1.4%, estimate). Compared to the Bank of Korea’s forecast (2.1%) or the forecast (2.2%) announced by the government through this year’s economic policy direction on the 4th, the growth rate is relatively optimistic. The United Nations said, “The slowdown in private consumption reflects the decline in real wages due to continued high inflation,” but added, “Despite tight monetary policy and rising financial costs, private investment gradually recovered in 2023, contributing to raising the growth rate forecast for 2024.” “He evaluated.
2024-01-06 01:32:55
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