Business

NEW YORK (APP) – The United Nations has said global economic growth for the year would hit a modest 2.4 percent, primarily due to weaknesses in developed economies.

In its World Economic Situation and Prospects report, the United Nations said many countries in Africa, the former Soviet Union, Latin America and the Caribbean were being hit by low commodity prices.

It also said that economic downturns in Russia and Brazil would have significant regional spill overs.