UNCTAD predicts global economic growth of 2.4% this year

The United Nations Conference on Trade and Development (UNCTAD) released a report on October 4th, predicting that global economic growth will slow to 2.4% in 2023.

In the 2023 Trade and Development Report released by UNCTAD on the same day, it was pointed out that although a few economies such as Brazil and China have achieved counter trend growth, economic growth in most regions of the world has slowed down compared to last year. The report believes that the global economy is at a "crossroads", with factors such as differences in growth paths, widening inequality, increasing market concentration, and increasing debt burden casting a shadow over global economic growth.

The report calls for reforming the global financial system, strengthening market regulation, and establishing a more equitable global trading system.

The Secretary General of UNCTAD, Rebecca Greenspan, stated that in order to ensure that the world economy is not affected by systemic crises in the future, economies must avoid wrong policy choices and promote a positive reform agenda.