Global growth strengthens but falling short of SDG targets: DESA

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Rural women sell mango and sweet potato jam at the food processing shop in Bantantinnting, Senegal. UN Photo/Evan Schneider

Global economic growth is strengthening in line with expectations, but in many regions it's below the rate needed to achieve the 2030 Sustainable Development Goals (SDGs).

That's according to the UN World Economic Situation and Prospects as of mid-2017, launched at UN Headquarters on Tuesday by the Department of Economic and Social Affairs (DESA).

Matthew Wells has the details.

The report identifies a "tentative recovery" in industrial production, along with an uptick in world trade, thanks largely to rising demand for imports from East Asia.

Global growth is expected to expand by 2.7 per cent this year, and 2.9 per cent in 2018, as forecast by the UN in January.

It's a notable acceleration compared with last year's gross increase of 2.3 per cent.

But while there is solid growth in many developed and developing countries, the least developed, or LDCs, are trending downward since January and projected to stay well below the SDG target of at least 7 per cent.

Under the current growth trajectory and assuming no decline in income inequality, just over a third of people living in LDCs are likely to remain in "extreme poverty", said the report.

Here's DESA's Senior Economic Affairs Officer, Diana Alarcon.

"Ending poverty in all its forms in the current economic environment will require countries to tackle inequality issues more rigorously including commitments to share prosperity both within and across national borders."

The report points to some positive signs including the level of carbon emissions, which has remained level for three years now, reflecting growing renewable power generation, and greater energy efficiency.

Matthew Wells, United Nations.

Duration: 1’16″

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