June 20, 2024

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The Organization for Economic Co-operation and Development is more optimistic about global economic growth

The Organization for Economic Co-operation and Development is more optimistic about global economic growth

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The Organization for Economic Co-operation and Development (OECD) has raised its forecasts for global economic growth. It now expects growth of 2.6 percent this year and 2.9 percent in 2024.

source: Belgium

In earlier forecasts, the OECD still assumed 2.2 and 2.7 percent, respectively. And she says in a report that expectations have improved thanks to slowing inflation, thanks to lower energy prices, and the reopening of China after the country took very strict measures regarding Corona for a long time.

At the same time, the international organization notes that the outlook is fragile and that there are many downside risks. This relates to matters such as the war in Ukraine, trade tensions and the current turmoil in financial markets after the collapse of the US bank Silicon Valley Bank (SVB).

The Organization for Economic Co-operation and Development expects the strongest economic growth this year in China (+5.3%) and India (+5%). The United States is expected to grow by 1.5 percent, and 0.8 percent for the euro area.

In 2022, there will be 3.2 percent global economic growth, according to the Organization for Economic Co-operation and Development. L.S

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