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World Economic Situation and Prospects as of mid-2024

Near-term global economic outlook cautiously optimistic as vulnerabilities remain Full Report: English Key Messages: English Press Release: English GDP growth and inflation data: PDF, XLS GDP Growth Table: English SIDS Economic Outlook: English The global economic outlook has improved since January, with major economies avoiding a severe downturn. The world economy is now projected to grow by 2.7 per cent in 2024, instead of 2.4 per cent forecasted earlier, on the back of better-than-expected performance of the United States economy and some improvement in the outlook for several large emerging economies. The modest gain in the growth momentum is partly offset by the downward revisions of…
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2024 CDP Report, ECOSOC and GA Resolutions

Report of the Committee for Development Policy (E/2024/33, Supplement No. 13)
عربي, 中文, English, Français, Русский, Español CDP excerpts on the report by theme Innovation ecosystems for development, structural change and equity 2024 triennial review of the list of least developed countries Enhanced monitoring of countries that are graduating or have graduated from the list of least developed countries Graduation – the global context ECOSOC resolution (E/RES/2024/7) on the Report of the Committee for Development Policy
عربي, 中文, English, Français, Русский, Español GA resolution (A/RES/79/230) on the Graduation of Cambodia and Senegal from the least developed country category
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2024 Monitoring Reports

Angola Letter from the Chair of the CDP to Angola, 10 July 2023 Bangladesh Bangladesh Annual Country Report 2023 Bhutan Annual Report on the Preparation of Bhutan’s Smooth Transition Strategy (13th Plan) for Graduation from the Least Developed Countries Category Equatorial Guinea Lao People's Democratic Republic The Annual Report to the Committee for Development Policy (CDP) on the Preparation of the Smooth Transition Strategy Nepal Report on the Preparation of the LDC Graduation Transition Strategy of Nepal Saõ Tomé and Príncipe Progress Report on the Process of São Tomé and Príncipe's Graduation from the List of LDCs Solomon Islands Vanuatu
Cover: World Economic Situation and Prospects: April 2024 Briefing, No. 180

World Economic Situation and Prospects: April 2024 Briefing, No. 180

Debt Sustainability Challenges in Africa: The Role of Domestic Debt In 2024, more low-income countries are facing debt distress or are at risk of debt distress than ever before. According to the latest IMF low-income countries debt sustainability analysis, 10 countries are in debt distress, while 52 countries are at moderate or high risk of debt distress. Out of these 62 countries, 40 are in Africa. African countries have suffered gravely from global shocks such as the COVID-19 pandemic, the war in Ukraine and spillover effects of high interest rates in many developed countries, which have increased debt levels across the continent. Debt levels are particularly high in the continent’s…
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CDP Plenary 2024

CDP Plenary 2024

Agenda Report of the Committee for Development Policy (E/2024/33, Supplement No. 13)
عربي, 中文, English, Français, Русский, Español The Committee for Development Policy (CDP) held its 26th Plenary meeting from 4 to 8 March at UN Headquarters in New York. H.E. Mr. Robert Rae, Permanent Representative of Canada to the United Nations and Vice-President of ECOSOC, and Mr. Li Jinhua, Under-Secretary-General for Economic and Social Affairs, addressed the CDP members during the opening session. The Committee addressed several issues related to the least developed countries (LDC) category, as well as the issue of innovation ecosystems for development, structural transformation and equity, as…
(A/79/320)

2024 Reports of the Secretary-General to the General Assembly

Towards a New International Economic Order (A/79/320)
中文, English, Français, Русский, Español
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A globally just transition: Perspectives from the Committee for Development Policy

This Policy Note compiles perspectives from the Committee for Development Policy (CDP) and its members on different dimensions of a globally just transition to low-carbon and environmentally sustainable economies. It includes the central messages of the debates on just transition during the CDP’s 2023 plenary meeting, on which the Committee reported to the Economic and Social Council, as well as pieces, individually authored and selected by CDP members, on ecologically sustainable industrialisation, breaking fossil fuel dependency, the potential and risks of carbon border adjustment mechanisms, the special challenges of middle-income countries (MICs) in securing a just transition; solutions…
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World Economic Situation and Prospects 2024

Protracted period of low growth looms large, undermining progress on sustainable development The world economy continues to face multiple crises, jeopardizing progress towards the Sustainable Development Goals (SDGs). Although global economic growth outperformed expectations in 2023 with several large economies showing remarkable resilience, simmering geo-political tensions and the growing intensity and frequency of extreme weather events have increased underlying risks and vulnerabilities. Furthermore, tight financial conditions also pose increasing risks to global trade and industrial production.   "2024 must be the year when we break out of this quagmire. By unlocking big, bold… Download
UN DESA Policy Brief No. 155: Accelerating middle-income countries? progress towards sustainable development

UN DESA Policy Brief No. 155: Accelerating middle-income countries? progress towards sustainable development

What are middle-income countries? Middle-income countries (MICs) are those whose incomes per capita lie between the levels used to define low- and high- income countries, with thresholds established by the World Bank. As of 1 July 2023, the group comprises 108 countries with a gross national income per capita of between $1,136 and $13,845. Together, MICs account for about 30 per cent of global GDP and make up 75 per cent of the world?s population, including 60 per cent of the world?s poor. The MICs classification overlaps with other country groupings. Currently, 22 least developed countries, 20 landlocked developing countries and 27 small island developing States are also classed as MICs.… UN DESA Policy Brief No. 155: Accelerating middle-income countries? progress towards sustainable development
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Measuring export concentration for identifying least developed countries, by Matthias Bruckner (CDP Background Paper No. 59)

Export concentration has long been recognized as a key indicator of the development progress of least developed countries (LDCs). This paper presents the refined export concentration index recently included in the criteria used for identifying LDCs. The refined index is a Theil index that covers both concentration in the basket of exported products and concentration in the set of export markets, thereby capturing two dimensions of vulnerability due to undiversified export structures. The paper shows that relative to other developing countries, LDCs are less diversified both in terms of export products and export markets, contributing to their heightened vulnerability. Download