The United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) recently released the World Economic Situation and Prospects (WESP) 2016 report. The report found that the global economy grew by just 2.4% in 2015 and is projected to improve slightly to 2.9% in 2016 and 3.2% in 2017. It also identified five major headwinds for the global economy, including persistent macroeconomic uncertainties, low commodity prices, rising exchange rate volatility, stagnant investment and productivity growth, and the continued disconnect between finance and the real sector. The report projected that India will be the fastest growing major economy in 2016 at 7.3% growth.