The Europe Sustainable Development Report 2023/24 (5th edition) provides an independent quantitative assessment of the progress by the European Union, its member states and partner countries towards the Sustainable Development Goals (SDGs).

Global foreign direct investment (FDI) flows in 2023, at an estimated $1.37 trillion, showed a marginal increase (+3%) over 2022, defying expectations as recession fears early in the year receded and financial markets performed well. However, economic uncertainty and higher interest rates did affect global investment.

The world’s five richest men have more than doubled their fortunes from $405 billion to $869 billion since 2020 —at a rate of $14 million per hour— while nearly five billion people have been made poorer, reveals a new Oxfam report on inequality and global corporate power.

Labour markets have shown surprising resilience despite deteriorating economic conditions, but recovery from the pandemic remains uneven as new vulnerabilities and multiple crises are eroding prospects for greater social justice, according to a new International Labour Organization (ILO) report.

Drawing on nearly two decades of original risks perception data, the World Economic Forum’s Global Risks Report 2024 warns of a global risks landscape in which progress in human development is being chipped away slowly, leaving states and individuals vulnerable to new and resurgent risks.

Global growth is expected to slow further this year, reflecting the lagged and ongoing effects of tight monetary policy to rein in inflation, restrictive credit conditions, and anemic global trade and investment.

Notwithstanding slower global growth and lingering impacts of recent catastrophic floods, private sector activity, outside the oil sector, has been supported by a relative return to peace, and higher government spending. Nevertheless, the economy is estimated to have contracted by 0.4 percent in FY23/24, reflecting drags from oil production.

Somalia has remained on a strong economic reform path despite the various global and exogenous shocks that have continued to buffet the economy.

Global economic growth is projected to decline from an estimated 2.7% in 2023 to 2.4% in 2024, according to this report by the United Nations.

This report highlights the socioeconomic contributions of the geothermal sector, including the potential opportunities and benefits that can be enhanced at national and local levels throughout geothermal projects’ development and operation.