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UN: Global economy to see steady 3% growth within 2019 despite risks

22.01.2019 17:46 "Agro Perspectiva" (Kyiv) The global economy was boosting at a «steady» 3.1% last year, and similar growth is expected this year, UN Radio says referring to Elliott Harris, United Nations Chief Economist report made while commenting on the launch of the World Economic Situation and Prospects 2019 (WESP) report. As to Harris, this growth will be uneven and often failing within some world regions. «We still have relatively strong growth, but we do see rising risks on the horizon and a growing likelihood that some of these risks might actually materialize,» Harris said. In addition, rising national debt is also crippling many countries ability to provide basic services, but this and other risks (such as those from climate change and waning support for international cooperation) could be avoided or minimized if countries worked together to do so, he admitted. As to Harris, these threats come at a time when international cooperation and governance are more important than ever — since many of the challenges laid out in the 2030 Agenda for Sustainable Development are global by nature and require collective and cooperative action. The lessening support for multilateralism also raises questions about the possibility of the international community for a cooperative action in the event of a widespread global shock.

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