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Economic growth faces different issues that vary from place to place. The global economy is currently dealing with many challenges. Economic growth is an increase in the production of goods and services. Growth is estimated in the value of goods and services, not just the quantity. Gross domestic product (GDP) and gross national product (GNP) are the widely used measures of a country’s aggregate economic output. Another issue is that the value of goods and services is not the same everywhere. Increases in capital goods, labor force, technology, and human capital are some of the major contributing factors to poor economic growth.

Poor Economic Growth
Poverty

•   Lack of job opportunity
•   Social injustice
•   Lack of resources/ insurgencies
•   Poor government support
•   Lack of education
•   Low growth rate

 Employment

•    High level of informality
•    Poor quality job
•    Underemployment
•    High rates of unemployment

 Economic activity

•   Debt burden
•   Lack of fiscal space
•   Macroeconomic instability
•   Recurrent balance of payments shocks
•   Disrupted due to pandemic

 Human

•   Mismatch between skills and job
•   Low productivity
  • Poor human capital development

Other issue

•   Geopolitical tensions
•   Many excluded from growth process
  •  Increasing inequality
•   Volatile growth
  • Dependent on single source

This fishbone describes the main reasons or factors that affect the growth of the economy. The first level mainly forms the categories of various factors. It is a simple template that provides information on the potential reasons for a sluggish or poor economy.

Who should use the Poor Economic Growth template?

• This analysis is advantageous to anyone who wants to understand the reasons behind the poor economic growth of a country.

Why use this template?

• Understand the different challenges in economic growth.
• Review, alter and reuse this template using smartQED to solve the problem.
• Draft your templates for any problem analysis in smartQED.

Curated from community experience and public sources:

• https://www.hks.harvard.edu/educational-programs/executive-education/leading-economic-growth/examples-challenges
• https://www.humanrightscareers.com/issues/root-causes-of-poverty/
• https://credendo.com/en/knowledge-hub/four-challenges-global-economy-2022