2023-09-19 15:04:03
The OECD expects global economic growth of 3.0 percent for 2023 and 2.7 percent for 2024. There are also warnings about various downside risks.
Paris.
The industrialized nations organization OECD sees only cautious growth prospects for the global economy in the coming year. The Organization for Economic Co-operation and Development (OECD) noted in its economic outlook that developments in the first half of 2023 were better than expected. However, the further outlook is weak, inflation is proving to be stubborn and there are significant risks.
Due to the effects of monetary policy and the unexpectedly weak recovery in China, the OECD therefore expects global economic growth of 3.0 percent for 2023 and 2.7 percent for 2024. For Germany, a minus of 0.2 percent is expected for the current year and for Growth of 0.9 percent is forecast for 2024.
In the euro area, which is already suffering from weak demand, domestic product growth is expected to slow to 0.6 percent in 2023 and pick up again to 1.1 percent in 2024 when the negative effect of high inflation on real incomes subsides.
The OECD warns of various downside risks in its economic forecast. Inflation could remain unexpectedly stubborn, especially since further disruptions in the energy and food markets cannot be ruled out. A further slowdown in China would dampen growth worldwide and could dampen the business climate. Many countries also had high levels of national debt after extensive aid packages to deal with the corona pandemic and the energy price crisis. (dpa)
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