World Economic Situation and Prospects 2024

The world economy in 2023 proved to be resilient, exceeding expectations with an estimated growth rate of 2.7 per cent, higher than the 2.3 per cent forecast last May. However, this better-than-expected performance masks underlying short-term risks and structural vulnerabilities. The World Economic Situation and Prospects 2024, launched today in New York, presents a sombre economic outlook for the near term, with global growth in 2024 projected to slow to 2.4 per cent. Persistently high interest rates, potential escalation of conflicts, sluggish international trade, and increasing climate disasters, pose significant challenges to the world economy.