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- PreviewWorld Economic Situation and Prospects 2018 (English)Report by UNCTAD; UN-Desa; ECA; ECE; ECLAC; ESCAP; ESCWA, 2018, 207 pagesCategories: Globalization and Development Strategies
The 2008 financial crisis laid bare the inadequacies in the rules we need for a stable and prosperous global economy. After a long period of stagnation, the world economy is finally strengthening. In 2017, global economic growth approached 3 per cent — the highest rate since 2011. As the World Economic Situation and Prospects 2018 demonstrates, current macroeconomic conditions offer policymakers greater scope to address some of the deeprooted systemic issues and short-term thinking that continue to hamper progress towards the Sustainable Development Goals. While acknowledging that many cyclical and longer-term risks and challenges persist, the report notes that, in many parts of the world, conditions have improved to support the significant investment necessary for delivering the goods and services a growing population needs. This paves the way to reorient policy towards longer-term issues, such as rehabilitating and protecting the environment, making economic growth more inclusive and tackling institutional obstacles to development.