UN DESA Releases WESP Mid-2025 Update
In News
What Happened
Why It Matters
Background
History & Context
What Changed
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Global Growth Outlook: BEFORE the update, earlier forecasts anticipated higher global resilience, but NOW growth is downgraded to 2.4 percent for 2025 due to trade friction.
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Trade Environment: BEFORE, supply chains were stabilizing post-pandemic, but NOW heightened tariff uncertainties are actively suppressing international trade and cross-border investment.
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Indian Economic Drivers: BEFORE, export-led growth was often emphasized for developing nations, but NOW India's 6.3 percent growth is explicitly credited to internal factors like strong public investment and resilient private consumption.
Prelims Angle
NCERT Connection
Practice Questions
Q1
Correct Statement(s)Consider the following statements regarding the World Economic Situation and Prospects (WESP) report: 1. It is published annually by the World Economic Forum (WEF). 2. The Mid-2025 update projected India to be the fastest-growing major economy, driven primarily by private consumption and public investment. Which of the statements given above is/are correct?