Can LDCs reach 7% annual GDP growth by 2031?
By Brendan Vickers, Head of Section, Salamat Ali, Trade Economist, and Neil Balchin, Economic Adviser: Trade Policy Analysis, The International Trade Policy Section of the Commonwealth Secretariat
If all 46 countries categorised as “Least Developed” by the UN achieve annual GDP growth of at least 7%, their combined GDP could almost double – between 2022 and 2031 – going from USD $1.1 trillion to more than USD $2.25 trillion.
—> This is the target set by the United Nations’ Doha Programme of Action (DPoA).
Yet, in the rapidly changing global economic landscape, with the threat of a worldwide recession and multiple and interrelated food, energy, and debt crises, achieving this ambitious growth target seems a herculean task.Continue reading “Can LDCs reach 7% annual GDP growth by 2031?”