World economy

The global economy may face new challenges in the first quarter of 2021, according to a report from UN experts.

According to th.organization’s report to the Conference on Trade and Development (UNCTAD), retail will be the hardest hit.

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 the 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.