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China's economic growth expected to accelerate to 4.8% in 2023, global economy projected to slow down: UN report

2023-01-27 08:10:27       source:Global Times

January 26, 2023

World output growth is projected to decelerate from an estimated 3.0 percent in 2022 to 1.9 percent in 2023, while China's economic growth is forecast to accelerate to 4.8 percent this year, according to a UN report launched on Wednesday.

Amid high inflation, aggressive monetary tightening and heightened uncertainties, the current global downturn has slowed the pace of economic recovery from the COVID-19 crisis, threatening several countries -- both developed and developing -- with the prospects of recession in 2023, the UN World Economic Situation and Prospects 2023 report said.

For instance, the GDP of the US is expected to expand only 0.4 percent in 2023, after an estimated growth of 1.8 percent in 2022, the report said.

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