UN warns of global economy stagnation in 2022 | News

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The United Nations (UN) warned this Thursday that, despite an economic rise in 2021, projections for the next two years point to a slight decline in this sector.

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The report of the UN Department of Economic and Social Affairs showed that, after a recovery during 2021 of 5.5 percent, economic activity is expected to grow by four percent in 2022 and by 3.5 percent in 2023.

Factors to slow the economic rise include new waves of Covid-19, difficulties in the labor market, problems with supply chains and mounting inflationary pressures.

According to the UN, in the second half of 2021 the economic slowdown began, especially in power nations such as China, the United States and the European Union.

Regarding Latin America and the Caribbean, the entity predicted that the general Gross Domestic Product (GDP) will grow approximately 2.2 percent, more than four percentage points below what was achieved in 2021.

In this sense, the UN Secretary General, António Guterres, called to work together so that 2022 is a year of recovery for those economies that were hit by the harmful effects of the pandemic.

For his part, the Deputy Secretary General of the Department of Economic and Social Affairs, Liu Zhenmin, stressed that a fair and sustainable recovery will not be achieved if a coordinated fight is not considered to stop the advance of Covid-19, which includes universal access to vaccines.

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