Development policy and international economic cooperation

In 2003, the world economy began to gain momentum following more than two years of sluggish growth. Although the war in Iraq and the outbreak of severe acute respiratory syndrome (SARS) in several countries caused some setbacks early in the year, the global economy experienced a stronger-than-expected upturn in the second half of the year, raising the overall rate of growth of world output to 2.5 per cent. Despite the improved global prospects, large imbalances remained, making it unlikely that most developing countries would attain the rates of growth necessary for the achievement of the primary Millennium Development Goal (MDG) adopted by the General Assembly in 2000, of halving by 2015 the proportion of the world’s people living in extreme poverty.

Sustainable Development Goals:

Peace, Justice and Strong Institutions

Partnerships for the Goals