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Persistently high inflation in both developed and developing economies is eroding real incomes. External financing conditions for developing economies have deteriorated due to the monetary tightening measures to counter inflation in developed economies.
More must be done to tackle decent work challenges, promote transitions from informal to formal employment, combat long-term unemployment and strengthen mechanisms to set and adjust wages.
Public institutions shall take policy measures to address challenges and build an enabling ecosystem for youth engagement and participation, with a focus on bridging the youth digital divide and supporting digital skills development of youth.
Multiple shocks to the world economy
The world continues to confront multiple, inter-connected crises. Amid a slow recovery from the impact of the COVID-19 pandemic, the world is facing a food and energy crisis exacerbated by the war in Ukra