UN Revises Global Economic Growth Forecast to 2.7% for 2024

Improved outlook driven by better prospects in the US and large emerging economies, despite ongoing challenges.

The United Nations now projects global economic growth at 2.7% for 2024, up from the 2.4% forecast in January.
The improved forecast is attributed to stronger economic prospects in the US, Brazil, India, and Russia.
Inflation remains a concern, with rates still above central bank targets in many developed countries.
Economic growth in Africa is expected to decline to 3.3%, down from the initial 3.5% forecast.
Key challenges include high interest rates, debt sustainability issues, geopolitical tensions, and climate risks.