New problems predicted for the global economy

MOSCOW, February 10 – RIA Novosti. The global economy may face new challenges in the first quarter of 2021, according to a Reuters report citing a report from UN experts.

According to the organization's report to the Conference on Trade and Development (UNCTAD), the retail sector will be hit hardest. Experts say the industry will shrink by one and a half percent, while the service sector is expected to decline by seven percent. It is also emphasized that at this stage it is the service sector that has a decisive negative impact on world GDP, while trade in goods, on the contrary, is gradually recovering.

It is noted that problems in the economy are still associated with restrictions imposed due to the coronavirus pandemic. In particular, therefore, experts are concerned about the tourism industry, since it is, in their opinion, the most affected.

Author: wedocount

Leave a Reply

Your email address will not be published. Required fields are marked *