UN publishes its latest World Economic Situation and Prospects (WESP) report

As per latest United Nations’ World Economic Situation and Prospects (WESP) report 2019, India’s Gross Domestic Product (GDP) is expected to grow at 7.4% during 2018-19 and improve to 7.6% in FY20. The report also expected that India’s economy to expand by 7.4% in 2020-21. Referring to the global economy, the report said it would continue to grow at a steady pace of around 3% in 2019 and 2020 amid signs that growth has peaked. The report also highlighted that global trade tensions pose a threat to the economic outlook. The 2019 report offers timely warnings about a range of macroeconomic challenges facing policymakers as they aim to deliver on the 2030 Agenda for Sustainable Development.