UN: New Challenges for the Global Economy Due to Problems in Services

The world economy in the first quarter will suffer tangible damage due to quarantine measures taken against the backdrop of the pandemic, warns the United Nations. This was stated by its experts at Conference on trade and development, reports Reuters. According to the UN, the main damage will be caused by a decline in services, according to its forecast, in the current trimester, it will amount to 7%. In addition, 1.5 percent decline is expected in the goods trade sector. Experts at noted that the latter, however, is recovering. During the first six months of last year it showed a drop of 15%, but in the fourth quarter it showed growth 8%. Earlier financiers in an interview to Bloomberg agency expressed their fears about the growth of the number of "bubbles" that threaten the global economy. In their opinion, they are formed due to actions of central banks of different countries, which softened their monetary policy.