The growth rate of the global economy is likely to slow this year

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United Nations, illustrative photo.

Consumer spending, investment growth and trade in goods, which have outpaced pre-pandemic epidemics, contributed significantly to the global economic recovery last year. However, after a decline of 3.4 percent in the previous year, the growth dynamics began to slow down at the end of the year. Even in large economies such as China, the European Union and the United States. The positive effects of fiscal and monetary stimulus disappeared and deep problems appeared in the supply chain.

Besides the ongoing pandemic, the increasing inflationary pressures in large advanced economies and many large developing countries pose an additional risk to the recovery, the report said. It is estimated that global inflation rose to 5.2 percent last year, more than two percentage points from the trend over the past decade.

In advanced economies, supply chain problems and inflationary pressures are also exacerbated by labor shortages. However, growth is generally weaker in most developing countries and countries in transition.

The UN forecast is similar to that of the World Bank released on Tuesday. It cut estimates of global economic growth for this year to 4.1 percent, while until then it had forecast 4.3 percent growth. She cited the ongoing AIDS pandemic, reduced government economic support and persistent barriers in global supply chains as reasons.