World Economic Situation and Prospects (WESP)

This is the United Nations definitive report on the state of the world economy, providing global and regional economic outlook for 2020 and 2021. Produced by the Department of Economic and Social Affairs, the five United Nations regional commissions, the United Nations Conference on Trade and Development, with contributions from the UN World Tourism Organization and other intergovernmental agencies.

The World Economic Situation and Prospects 2025 presents a regional and global economic outlook for 2025 and underscores the importance of global cooperation and prudent policies to lift global growth and accelerate progress towards the SDGs. This year's thematic chapter takes a deep dive into the role of critical minerals in ramping up energy transition and delivering sustainable development. These minerals are key to build renewable technologies to achieve net zero by 2050, while bringing tremendous opportunities for many developing countries to create jobs, generate revenues and spur industrialization.

The 2024 edition of the United Nations' World Economic Situation and Prospects report comes amid stark global economic inequalities and high geopolitical tensions. While rich economies have largely bounced back from the COVID-19 pandemic, developing economies have lost ground. Many are drowning in debt, with more than a third at risk of crisis. Investment in climate action and sustainable development is falling woefully short. Hunger and poverty are on the rise. And growing divisions between countries and economies are preventing an effective response. As this report makes clear, 2024 is projected to be another tough year. Sluggish global growth is projected to slow further. Investment will remain weak. The debt crisis will continue to spiral, as debt service obligations reach new heights. Devastating conflicts and escalating extreme weather are bringing uncertainty and risk to the global economy.

The World Economic Situation and Prospects 2026 is a report produced by the United Nations Department of Economic and Social Affairs (UN DESA), in partnership with the United Nations Conference on Trade and Development (UNCTAD) and five United Nations regional commissions: the Economic Commission for Africa (ECA), Economic Commission for Europe (UNECE), Economic Commission for Latin America and the Caribbean (ECLAC), Economic and Social Commission for Asia and the Pacific (ESCAP) and Economic and Social Commission for Western Asia (ESCWA). The report will present a regional and global economic outlook for 2026 and underscore the importance of global cooperation and prudent policies to lift global growth and accelerate progress towards the SDGs. Heated competition for critical minerals is preying on weak governance and social cohesion, driving uncertainty and division across affected communities. And rising military expenditure is diverting scarce resources away from social spending, as countries spend more on instruments of war than on investments in peace.

This is the United Nations definitive report on the state of the world economy, providing global and regional economic outlook for 2022 and 2023. The World Economic Situation and Prospects 2022 will examine the recovery of the global economy from the COVID-19 pandemic. In addition to presenting the latest UN growth forecasts, the report will provide a comprehensive assessment of economic developments, risk factors, and policy challenges. This year's thematic chapter will discuss the macroeconomic and distributional consequences of monetary policy, with particular focus on unconventional measures such as quantitative easing (QE).