The 2023 ECOSOC Financing for Development (FfD) Forum - Press Conference (12 February 2023)

The 2023 ECOSOC Financing for Development (FfD) Forum will provide a platform for inclusive, multi-stakeholder dialogue to address the current global challenges and advance policies for financing long-term sustainable development priorities, in line with its mandate laid out in the Addis Ababa Action Agenda. The Forum will be held next week at UN Headquarters in New York from 17 to 20 April. Ahead of the Forum, Bulgarian Ambassador Lachezara Stoeva, who is the President of the seventy-eight President of the Economic and Social Council, spoke to reporters today (12 Apr) in New York. Ambassador Stoeva noted that the global economic outlook remains fragile amid a highly challenging environment. Countries are facing difficult economic policy trade-offs and recent shocks are threatening to further reverse progress on the 2030 Agenda for Sustainable Development. She said, ““Global growth in 2023 is projected to be down 2.9 percent from an estimated 3.4 percent in 2022, putting the development finance in a less optimistic position.” The President of the Council also said, “Financing prospects continue to diverge between developed and developing countries, if not addressed, great finance divide will translate into a lasting sustainable development divide.” Both immediate and longer-term measures are urgently needed to effectively finance responses to multiple overlapping crises while scaling up essential investments in the Sustainable Development Goals (SDGs), the Bulgarian Ambassador added.


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