The United Nations has projected a global economic growth of 2.8%, marking a period of subdued recovery amid ongoing challenges such as conflicts and inflation. In its annual “World Economic Situation and Prospects” report, U.N. economists highlight that growth will be driven by strong performances in China, India, Indonesia, and the United States, with China’s growth slightly slowing to 4.8%, while India and Indonesia maintain robust rates.

Despite slowing global growth, the report stresses that major economies are seeing steady recovery. India’s 6.6% growth forecast is attributed to strong private consumption and investment. The European Union, Japan, and the United Kingdom are expected to see modest recovery after weaker performances.

The report also underlines the impact of lower consumption and property market weaknesses in China, along with concerns over shrinking population and rising trade tensions that could undermine its medium-term growth prospects. However, the U.N. points out that despite these challenges, the global economy has avoided a broad-based contraction.

Although the world economy is projected to grow slower than pre-pandemic rates, which were above 3%, it remains resilient with notable growth in key markets. As economies like the U.S. and China experience slower growth, India continues to drive strong economic performance, particularly in South Asia, where growth is forecasted to reach 5.7%.

In conclusion, the global recovery remains uneven, with large economies leading growth, but the risk of prolonged challenges is present if critical issues like trade and demographic shifts are not addressed.