The United Nations upwardly revised its outlook for the global economy this year from two-point-four to two-point-seven percent.

In the year's interim report on Thursday, the UN Department of Economic and Social Affairs said economic situations in the U.S. and major emerging economies, such as Brazil, India and Russia, have improved.

The report listed prolonged high interests, debt burdens, continued geopolitical tensions and climate threats among the poorest countries and small island nations as risk factors, while stating inflation as a symptom of vulnerability causing concern.

It projected the South Korean economy to grow two-point-two percent this year, down point-two percentage points from its previous forecast in January.

The UN department set its growth forecast for the global economy next year at two-point-eight percent.