The United Nations Trade and Development Organization (UNCTAD) has called for a review of global development strategies in light of slow economic growth, increasing debt, and a weak state of the global economy. According to the OECD report on "Trade and Development" for the year 2024, global economic growth is declining, and growth rates are expected to remain at 2.7% for the years 2024 and 2025, which is less than the annual average of 3% for the period between 2001 and 2019, and constitutes a wide contrast with the average growth of the global economy when it reached 4.4% during Years before the global financial crisis.
UNCTAD indicated that investment and trade are increasing the gap between industrialized and developing countries, despite the latter's opportunities with rising South-South trade and demand from minerals driving the green transition.
