The report forecasts global economic growth to 2.6% in 2024, barely above the 2.5% threshold commonly associated with a recessionary phase.

This rate also signifies the third consecutive year of growth below the pre-pandemic average of 3.2% from 2015 to 2019.

The report says the prevailing focus on inflation overshadows urgent issues like trade disruptions, climate change and rising inequalities.

It advocates for structural reforms and coordinated global efforts, proposing a comprehensive strategy that includes both supply-side policies to boost investment and demand-side measures to improve employment and income.

Report by the United Nations Conference on Trade and Development