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
Prospects for a robust global recovery remain dim
Global growth remains subdued
The world economy is facing severe headwinds amid weak growth prospects, elevated inflation and heightened uncertainties. A confluence of factors, including legacy effects of the COVID-19 pandemic, the protracted war in Ukraine, the ever-worsening impacts of climate change, and rapidly shifting macroeconomic conditions, are weighing on the global outlook. Stubbornly high inflation in both developed and developing countries has prompted the most aggressive interest rate hike cycle in decades, causing financial conditions to tighten and exacerbating debt vulnerabilities. While economic prospects remain subdued,…
Amid multiple global crises, risk of prolonged period of low growth looms large
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Prospects for a robust global economic recovery remain dim amid stubborn inflation, rising interest rates and heightened uncertainties. Instead, the world economy faces the risk of a prolonged period of low growth as the lingering effects of the COVID-19 pandemic, the ever-worsening impact of climate change and macroeconomic structural challenges remain unaddressed, according to the World Economic Situation and Prospects as of mid-2023 released today. According to the report, the world economy is now projected to grow by 2.3 per cent in…
World Economic Situation and Prospects as of mid-2023
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Global growth prospects have weakened significantly amid the war in Ukraine, rising energy, food and commodity prices, soaring inflation and tightening monetary policy stances by major central banks. The world economy is projected to grow by 3.1 per cent in 2022, marking a downward revision of 0.9 percentage points from our previous forecast released in January 2022. The baseline forecast faces significant downside risks from further intensification of the war in Ukraine and potential new waves of the pandemic.
Growth forecasts for the United States, European Union and China have been…
World Economic Situation and Prospects as of mid-2022
Global growth outlook has weakened, amid unresolved trade tensions and elevated international policy uncertainty, according to the World Economic Situation and Prospects as of mid-2019. Across both developed and developing countries, growth projections for 2019 have been downgraded.?Following an expansion of 3.0 per cent in 2018, world gross product growth is now projected to moderate to 2.7 per cent in 2019 and 2.9 per cent in 2020, reflecting a downward revision from the forecasts released in January. The report identifies several downside risks that could trigger a sharper or more prolonged growth slowdown in the world economy, potentially inflicting significant damage on development…
World Economic Situation and Prospects as of mid-2019
The subgroup of the Committee for Development Policy (CDP) met in New York City from 1 - 2 February 2018 to review the data used for the identification of least developed countries (LDCs) and to conduct country consultations with the countries identified for possible graduation from the LDC category. The findings of the subgroup will be discussed at the CDP Plenary which will take place 12-16 March 2018 in New York City.
For more information on the CDP Plenary visit the 2018 CDP Plenary webpage
Preparing for graduation from the Least Developed Country (LDC) category is a daunting task for the majority of LDCs. The countries face challenges in fully understanding the benefits from LDC-specific support they receive and what implication a possible graduation will have. Demand for information and support for a smooth transition from the LDC category continues to be high.
To assist LDCs prepare for a smooth graduation from the LDC category the Committee for Development Policy (CDP) and the Enhanced Integrated Framework (EIF) have formed a partnership. This joint side event held on 23 My 2017 brought together LDCs and development partners and presented some supporting tools currently…
Assisting the LDCs in preparing for graduation
The mid-year update of theWorld Economic Situation and Prospects forecasts growth of world gross product to accelerate slightly from 2.6 per cent in 2014 to 2.8 per cent in 2015?a downward revision by 0.3 percentage points from the forecast presented in the World Economic Situation and Prospects 2015 in January. In 2016, global growth is forecast to improve to 3.1 per cent. The report was launched today in New York by Pingfan Hong, Director of the Development Policy and Analysis Division (DPAD), UN/DESA; and Ingo Pitterle, Economic Affairs Officer, DPAD/DESA.
DESA/DPAD, in collaboration with the Project LINK Research Center of the University of Toronto, held its annual Expert Group Meeting on the World Economy (Project LINK conference) from October 21 to 23 in New York.
The conference was attended by some 80 experts from about 60 countries and several international agencies, including the IMF, World Bank, ILO and OECD, as well as representatives from the UN regional commissions and the UNCTAD. The conference covered three major themes: (1) the economic outlook for the world and regions; (2) international economic and policy issues; and (3) econometric modeling techniques.
Agenda Presentations
Monday, October 21, 2013
World Economic…
UN/DESA Expert Group Meeting on the World Economy
Statement by Prof. Sakiko Fukuda-Parr at the CDP panel discussion with the ECOSOC on the UN Development Strategy for Transformative Changes Beyond 2015 , 23 July 2012
Statement by Prof. Frances Stewart, the Chairperson of the CDP, at the High Level Segment of 2012 ECOSOC Substantive Session, 3 July 2012
Statement by Prof. Jose Antonio Alonso, CDP member on "Smooth transition: some proposals", at the Second substantive meeting of the Ad-Hoc Working Group on smooth transition, 16 March 2012
Statement by Jose Antonio Alonso, CDP member, at the Global Preparatory Meeting for the 2012 AMR theme, 3 April 2012
Statement by Amb. Luis Alfonso de Alba, at the 14th Session of the CDP, New York…
CDP Statements 2012
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