World economic conditions: Main features, policies and prospects

Although the world economy in 1985 was marked by disappointingly slow growth in world output and international trade, several important policy initiatives were taken, which have improved the environment for economic decisions of policy makers and private sector agents. As a result, short-term prospects for developed market economies appear more encouraging than a year ago. The steps taken to reduce the United States fiscal deficit, the downward trend in nominal interest rates and the fall of the dollar exchange rate have eased pressures in financial markets and improved the outlook for the correction of the high trade and current account imbalances among major countries. Since late 1985, oil prices have declined sharply, improving the growth prospects for energy-importing countries, but at the cost of a considerable

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Climate Action