UNCTAD’s Trade and Development Report 2022

Current Context: The United Nations Conference on Trade and Development (UNCTAD) released its, “Trade and Development Report 2022”.

• According to the UN report, the world economy will grow by 2.6% in 2022 and is expected to further dip in 2023 to 2.2%.
• The report warned that the global slowdown has started to slowly transform itself into a global economic downturn.
• The main reason for this downturn has been attributed to:

1. Rapidly increasing interest rates in the advanced economies
2. Russia-Ukraine War

• As far as the Indian economy is concerned, the report suggests growth of:

1. 5.7% in 2022
2. 4.7% in 2023

• UNCTAD is an intergovernmental organization and is a part of the UN Secretariat. It was established in 1964 with its headquarters in Geneva, Switzerland. The current Secretary General of the UNCTAD is Rebeca Grynspan.

Question:

Q.1 According to the UNCTAD’s, “Trade and Development Report 2022”, the growth rate of India for 2022 will be?
a. 4.7%
b. 5.7%
c. 6.7%
d. 7.7%