World Economic Situation and Prospects Report
Context: The World Economic Situation and Prospects Report, released by the United Nations, provides global and country-specific economic forecasts, and in its 2025 mid-year update, it lowered India's growth outlook to 6.3%, citing global slowdown and trade uncertainties.
Important Pointers:
Published by: United Nations Department of Economic and Social Affairs (UNDESA), along with UNCTAD and the five UN Regional Commissions.
Nature of Report: A flagship UN publication offering global macroeconomic analysis and forecasts, published annually with a mid-year update.
Latest Edition: World Economic Situation and Prospects (WESP) 2025 – Mid-Year Update.
Purpose: To assess global and regional economic trends and offer policy recommendations for sustainable development.
India's Revised Growth Forecast: 6.3% for 2025 and 6.4% for 2026—both lowered by 0.3 percentage points due to global slowdown and trade uncertainties.
Global Growth Outlook: Projected to slow to 2.4% in 2025 and 2.5% in 2026—both downgraded by 0.4 percentage points from earlier projections.
Data Basis for India: The UN uses calendar year data for India, not the usual financial year format.
India's Economic Resilience: Despite moderation, India remains one of the fastest-growing large economies, supported by resilient consumption and government spending.
Key Risks to Global Economy: Heightened trade tensions, geopolitical uncertainties, and diverging monetary policies across regions.