Sustainable Development Goals Data

 SDG Goal: 8_

“You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”

In 2020, the COVID-19 pandemic unleashed the worst economic crisis in decades, with a severely damaging impact on working time and income. Although the global economy started to rebound in 2021, waves of spreading COVID-19 infections together with rising inflation, major supply chain disruptions, policy uncertainties and unsustainable debt of developing countries caused the global economy to slow down at the end of 2021. The conflict in Ukraine is expected to seriously set back global economic growth in 2022.

Following an increase of about 1.4 per cent in 2019, global real GDP per capita decreased sharply by 4.4 per cent in 2020. Global real GDP per capita is estimated to have rebounded at a growth rate of 4.4 per cent in 2021 and is projected to increase again by 3.0 per cent in 2022 and 2.5 per cent in 2023 based on pre-war estimations. The war in Ukraine is likely to downgrade global growth. The real GDP of least developed countries had increased by 5.0 per cent in 2019 but showed no growth in 2020 because of the disruption caused by the pandemic.