Latest news with #UnitedNationsDepartmentofEconomicandSocialAffairs
Economic Times
16-05-2025
- Business
- Economic Times
UN cuts India's 2025 growth outlook to 6.3% from 6.6%
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: The United Nations Department of Economic and Social Affairs (UNDESA) has downgraded India's growth forecast for 2025 to 6.3%, from 6.6% projected earlier, attributing it to trade tensions and policy the downgrade, India will remain one of the world's fastest-growing large economies, supported by strong domestic consumption and government spending, according to UNDESA's 'World Economic Situation and Prospects 2025 mid-year update'. "Resilient private consumption and strong public investment, alongside robust services exports, will support economic growth," it ahead to 2026, UNDESA forecast India's gross domestic product (GDP) growth to recover a tad to 6.4%. Optimism in financial markets, solid gains in stock indices, pick up in manufacturing activity, and increase in exports show that "India's economy is not only holding firm but also making headway in an uncertain global environment", the government said on sector's share in India's economic growth remained steady in the last decade, moving to 17.3% in FY24 from 17.2% in FY14. "This steady growth highlights the sector's increasing role in India's economic landscape," the government April 2, the US imposed a reciprocal tariff of 26% on imports from India. Key sectors such as pharmaceuticals, electronics, semiconductors, and energy were exempted from the duty. President Donald Trump later announced a 90-day pause on the tariff implementation until July 9, although a baseline tariff of 10% remains in the exemptions may soften the economic impact on India, the report noted that these may not be India's exports increased to $824.9 billion in FY25, an increase of 6.01% from $778.1 billion in FY24."Exports, especially in strategic areas like defence production, are expanding steadily," said the government on exports surged to ₹23,622 crore in FY25 from ₹686 crore in FY14. "The tariff shock risks hitting vulnerable developing countries hard, slowing growth, slashing export revenues, and compounding debt challenges, especially as these economies are already struggling to make the investments needed for long-term, sustainable development," said Li Junhua, United Nations Under-Secretary-General for Economic and Social growth in the US will decelerate to 1.6% in 2025 from 2.8% in 2024- below the previous forecast of 1.9%--as higher tariffs and policy uncertainty are expected to dampen private investment and consumption, as per the growth is also expected to slow to 4.6% from an earlier estimate of 4.8%, due to weaker consumer sentiment, disruptions in export-focused manufacturing and ongoing issues in the property sector, it GDP growth is anticipated to fall to 2.4% in 2025 from 2.8%."Slower global growth, elevated inflationary pressures and weakening global trade including a projected halving of trade growth jeopardise progress toward the Sustainable Development Goals," said UNDESA.
Time of India
16-05-2025
- Business
- Time of India
UN cuts India's 2025 growth outlook to 6.3% from 6.6%
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: The United Nations Department of Economic and Social Affairs (UNDESA) has downgraded India's growth forecast for 2025 to 6.3%, from 6.6% projected earlier, attributing it to trade tensions and policy the downgrade, India will remain one of the world's fastest-growing large economies, supported by strong domestic consumption and government spending, according to UNDESA's 'World Economic Situation and Prospects 2025 mid-year update'. "Resilient private consumption and strong public investment, alongside robust services exports, will support economic growth," it ahead to 2026, UNDESA forecast India's gross domestic product (GDP) growth to recover a tad to 6.4%. Optimism in financial markets, solid gains in stock indices, pick up in manufacturing activity, and increase in exports show that "India's economy is not only holding firm but also making headway in an uncertain global environment", the government said on sector's share in India's economic growth remained steady in the last decade, moving to 17.3% in FY24 from 17.2% in FY14. "This steady growth highlights the sector's increasing role in India's economic landscape," the government April 2, the US imposed a reciprocal tariff of 26% on imports from India. Key sectors such as pharmaceuticals, electronics, semiconductors, and energy were exempted from the duty. President Donald Trump later announced a 90-day pause on the tariff implementation until July 9, although a baseline tariff of 10% remains in the exemptions may soften the economic impact on India, the report noted that these may not be India's exports increased to $824.9 billion in FY25, an increase of 6.01% from $778.1 billion in FY24."Exports, especially in strategic areas like defence production, are expanding steadily," said the government on exports surged to ₹23,622 crore in FY25 from ₹686 crore in FY14. "The tariff shock risks hitting vulnerable developing countries hard, slowing growth, slashing export revenues, and compounding debt challenges, especially as these economies are already struggling to make the investments needed for long-term, sustainable development," said Li Junhua, United Nations Under-Secretary-General for Economic and Social growth in the US will decelerate to 1.6% in 2025 from 2.8% in 2024- below the previous forecast of 1.9%--as higher tariffs and policy uncertainty are expected to dampen private investment and consumption, as per the growth is also expected to slow to 4.6% from an earlier estimate of 4.8%, due to weaker consumer sentiment, disruptions in export-focused manufacturing and ongoing issues in the property sector, it GDP growth is anticipated to fall to 2.4% in 2025 from 2.8%."Slower global growth, elevated inflationary pressures and weakening global trade including a projected halving of trade growth jeopardise progress toward the Sustainable Development Goals," said UNDESA.
BusinessToday
26-04-2025
- Health
- BusinessToday
Beyond Childhood: The Case For Lifelong Vaccination In Malaysia
By Dr Wong Chuan Loo When most people think of vaccines, childhood immunisations — against measles, mumps or polio —often come to mind. However, in a rapidly aging Malaysia, where seniors are projected to outnumber children by 2050, immunisation must evolve into a lifelong public health strategy. According to the United Nations Department of Economic and Social Affairs 2024, Malaysia is undergoing a significant demographic shift with profound implications for its healthcare system. This transition underscores the urgent need to strengthen preventative care measures, particularly through adult immunisation. Malaysia's National Immunisation Programme (NIP), introduced in the 1950s as part of a maternal and child health initiative, currently offers free vaccines against 13 childhood diseases – more than double the original six recommended by the World Health Organization Expanded Programme on Immunisation. However, an additional seven recommended vaccines – covering illnesses such as chickenpox, dengue, COVID-19, hepatitis A, meningococcal disease, influenza and rotavirus – are only available at private healthcare facilities for a fee. This two-tiered system limits access for many adults, particularly the elderly. Are Older Malaysians Being Left Behind? While over 90% of Malaysian children are vaccinated against 13 diseases, adults and seniors remain vulnerable to various vaccine-preventable illnesses, such as influenza, pneumonia, and shingles. Influenza alone costs Malaysia RM3.3 billion annually in healthcare expenditures, primarily due to hospitalisations involving unvaccinated seniors. Meanwhile, cervical cancer remains the third-leading cause of cancer-related deaths among Malaysian women, despite the human papillomavirus (HPV) vaccine being free for teenage girls since 2010. Demographic shifts pose additional challenges such as a shrinking workforce will struggle to support a growing elderly population, and a smaller tax base risks underfunding healthcare even as demand surges. Globally, the COVID-19 pandemic exacerbated immunisation gaps. A joint report by GlaxoSmithKline plc (GSK) and IQVIA found that over 100 million adult vaccine doses were missed in 2021 and 2022 alone. Malaysia must urgently embrace a lifelong vaccination approach to bridge this gap and reduce future public health and economic burdens. Why Lifelong Vaccination Matters Vaccines are not only about preventing illness, but they also enable a better quality of life. In Malaysia, a modeling study found that implementing a national influenza immunisation programme for seniors could prevent over 66,000 influenza cases and more than 3,000 hospitalisations annually. Among diabetics, flu shots reduce hospitalisation risk by 54%. Pneumococcal vaccines lower the risk of pneumonia by 41% in lung disease patients, and reduce mortality by 22% in adults with cardiovascular disease. Expanding HPV vaccination to include boys and men could accelerate progress toward eliminating cervical cancer altogether. Despite the data, adult vaccination uptake remains low. A 2023 study found that while 47% of healthcare employees attributed sick leave to the flu, only 5% of seniors reported receiving the flu vaccine. The reasons are varied: Policy Gaps: Adult vaccines are not included under the NIP. HPV coverage for girls stands at 52%, compared to 96% in Indonesia. Access Barriers: Rural clinics face stockouts, while urban adults may delay vaccines due to mobility or time constraints. Vaccine Hesitancy: Myths surrounding vaccine safety, adverse effects, and halal compliance persist. Misinformation and Pseudoscience Belief: Social media amplifies harmful myths, including belief in 'homeopathic vaccines'. Healthcare Provider Gaps: Some healthcare practitioners lack training or willingness to advocate for adult vaccination, and may even perpetuate misinformation. If unaddressed, these challenges could drive elderly healthcare costs in Malaysia to hit RM21 billion by 2040, with hospital admissions nearly double those of younger age groups. Vaccines as a Lifelong Shield To protect its aging population, Malaysia need a robust, cost-effective, and multi-pronged National Lifelong Vaccination Strategy that combines fiscal pragmatism with public trust. Key recommendations include: Universal Access: Expand the NIP to cover essential adult vaccines (influenza, pneumococcal, and HPV for all genders), leveraging 'sin taxes' on tobacco and sugary drinks or through public-private partnerships to subsidise vaccine dose costs. Transparency on Adverse Events: Launch a public-facing Adverse Events Following Immunisation (AEFI) dashboard to clarify facts and dispel myths. Electronic Immunisation Registry: Establish a centralised e-registry to track vaccination status and automate reminders for supplementary boosters. Public Awareness Campaigns: Train healthcare professionals to serve as vaccine advocates and collaborate with religious and community leaders to address halal concerns and misinformation. Corporate Accountability: Offer tax incentives for companies providing employee flu jabs as such programmes can save up to RM90.30 per worker annually in productivity gains. As Malaysia approaches an aged population, vaccines must evolve from a childhood rite to a lifelong shield—an essential investment in national health, productivity, and resilience for every stage of life. The author is a Lecturer at the School of Biosciences, Faculty of Health and Medical Sciences, Taylor's University. Related
The Star
24-04-2025
- Health
- The Star
Case for lifelong immunisation
ACCORDING to the United Nations Department of Economic and Social Affairs 2024, Malaysia is undergoing a significant demographic shift with profound implications for its healthcare system. This transition underscores the urgent need to strengthen preventative care measures, particularly through adult immunisation. The National Immunisation Programme (NIP), introduced in the 1950s as part of a maternal and child health initiative, currently offers free vaccines against 13 childhood diseases. This is more than double the original six recommended by the World Health Organisation Expanded Programme on Immunisation.
Zawya
18-04-2025
- Politics
- Zawya
Ministry of Planning, Economic Development and International Cooperation Launches "Citizen Budget Plans" for All Governorates for the Fiscal Year (2024/2025)
The Ministry of Planning, Economic Development and International Cooperation has launched the Citizen Budget Plans for the fiscal year (2024/2025) for all governorates nationwide. This aligns with the principles of the General Planning Law No. 18 of 2022, which emphasizes the importance of participation and openness to society, in implementation of Egypt's Vision 2030 and the National Human Rights Strategy regarding the production and availability of data to citizens for obtaining and circulating official information, data, and statistics. H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development and International Cooperation, affirmed that the Citizen Budget Plans are among the most important planning documents that help raise awareness among citizens about the priorities and directions of the annual development plans. These plans include detailed information on investments and ongoing projects in each governorate and their distribution across various sectors, clarifying the impact of these projects on improving the current status of key development indicators for each governorate. The plans also emphasize the citizen's right to knowledge, enhance frameworks for community participation, transparency, and accountability, and enable citizens to understand the directions of the sustainable development plan adopted by the state. H.E. Dr. Al-Mashat pointed out the role of the Citizen Budget Plans in enhancing trust between citizens and the state by involving citizens in monitoring the implementation of plans and projects, ensuring citizens' right to access official data, information, and documents, bridging spatial development gaps, and clarifying the development return of development plans. This contributes to localizing the Sustainable Development Goals (SDGs) at the governorate level. H.E. Minister Al-Mashat noted the inclusion of the Citizen Budget Plans on the "SDGs Acceleration Actions" platform of the United Nations Department of Economic and Social Affairs (UNDESA). The Citizen's Plans include the features of the national-level economic and social development plan for the year (2024/2025), the most important development indicators for each governorate, the targets of the national project for the development of the Egyptian countryside "Hayah Karima" in rural governorates, and the implementation status of the "Green Village" initiative within the "Hayah Karima" project. The Citizen's Plans documents provide detailed information on state-directed investments for each governorate and their distribution across different sectors, the most prominent ongoing projects in each sector, as well as the most important economic and social indicators for each governorate. This helps citizens follow up on these projects in their governorate/city/village, which in turn contributes to integrating citizens into the planning and monitoring systems. It is worth mentioning that the Ministry of Planning, Economic Development and International Cooperation has launched a number of reports and platforms over the past period as part of its role in enhancing sustainable economic development efforts. The Ministry launched the Annual Report for 2024, as well as the Egypt's Integrated National Financing Strategy (E-INFS) for Development, the second follow-up report of the "NWFE" (Nexus of Water, Food and Energy) country platform, the Monitoring and Evaluation Manual, the "Afaq wa Foras al-Waza'ef fi Misr" (Horizons and Job Opportunities in Egypt) platform, as well as the second phase of the "HAFIZ" Hub for Advisory, Finance and Investment for Enterprises. It is worth noting that the Ministry provides the Citizen Budget Plans for all governorates on its website and on the "Sharek 2030" mobile application. Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
