The world economy is on a recessionary trajectory, with global growth expected to slow to 2.3 percent in 2025 due to rising trade tensions and uncertainty, the United Nations Trade and Development (UNCTAD) said.

In its Trade and Development Foresights 2025 report released yesterday, UNCTAD said that rising trade tensions are impacting global trade, adding that trade policy uncertainty is at a historical high, leading to delayed investment decisions and reduced hiring.