U.N. report slashes forecast for global growth in 2016

UNITED NATIONS, May 13 (APP): With little prospects for a turnaround in  2016, growth in the world economy remains weak, posing a challenge to the implementation of development targets, a new United Nations report has found.

According to the UN World Economic Situation and Prospects as of
mid-2016 report, launched Thursday at UN Headquarters in New York by the UN Department of Economic and Social Affairs, world gross product will grow by just 2.4 per cent in 2016, the same pace as in 2015, marking a downward revision of 0.5 percentage points from UN forecasts released in December 2015.

“The report underscores the need for a more balanced policy mix to
rejuvenate global growth and create an enabling environment to achieve the 2030 Agenda for Sustainable Development,” Lenni Montiel, Assistant Secretary-General for Economic Development in a said.