Translation. Region: Russian Federation –
Source: United Nations – United Nations –
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January 12, 2026 Economic development
This week, the UN Geneva office will host a meeting of leading financial experts advocating for a radical change in the approach to measuring economic growth. This is due to concerns that GDP indicators provide little information on progress in achieving key goals. sustainable development goals, on which the survival of many people depends.
The meeting in Geneva is organized as part of the "Beyond GDP" initiative, supported by the United Nations Conference on Trade and Development (UNCTAD). This movement seeks to develop more comprehensive development indicators that include not only economic indicators but also data reflecting social well-being, environmental sustainability, and quality of life.
GDP doesn't give the full picture
UN Secretary-General Antonio Guterresand has previously spoken about the over-reliance of global policy on gross domestic product data.
“Every day we see the consequences of our failure to balance the economic, social and environmental dimensions of development,” the Secretary-General said.
"Going beyond GDP is fundamental to building an economic system that values what really matters – human well-being – now and in the future, for everyone," he added.
His view is shared by many leading economists, who have repeatedly argued that GDP figures overvalue activities that deplete the planet, rather than those that sustain life and promote human well-being.
“This issue is becoming increasingly pressing in the context of climate change, ecosystem degradation, biodiversity loss, increased conflict and food insecurity, as well as historical inequalities,” the statement said. Expert Group on Moving Beyond GDP.
Wealth and well-being assessment
This week's discussions at the Palais des Nations in Geneva will be the second face-to-face meeting of the expert group since its establishment last May.
“Improving well-being and the drivers of it – health, social capital, and environmental health – are not only good for society but also make an integral contribution to economic prosperity,” the expert group said in its interim report, published in November.
Describing the task the group must address, its members warned of a "growing gap between what politicians and citizens think is happening and their lived experience, which does not match the picture created by GDP figures alone."
This week's discussions will feature more than a dozen renowned economists, including Nobel laureate Joseph Stiglitz, Indian economist Kaushik Basu, and equality expert Nora Lustig. Their tasks include developing a list of nationally and universally applicable indicators of sustainable development and providing governments with the information needed for the 17 Sustainable Development Goals (SDGs).
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