Global economic growth to remain at 3% in 2019-2020: UN

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United Nations, Jan 22:  The global economy will continue to grow at a steady pace of around 3 per cent in 2019 and 2020 amid signs that global growth has peaked, the UN has said.

However, “a worrisome combination of development challenges could further undermine growth,” according to the United Nations World Economic Situation and Prospects 2019, which was launched on Monday at the UN headquarters in New York, Xinhua reported.

Global growth is expected to remain steady at 3 per cent in 2019 and 2020, after an expansion of 3.1 per cent in 2018, said the report.

Growth in the US is projected to decelerate to 2.5 per cent in 2019 and 2 per cent in 2020, “as the impulse from fiscal stimulus in 2018 wanes,” it noted, adding that “steady growth of 2 per cent is projected for the European Union, although risks are tilted to the downside, including a potential fallout from Brexit.”

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