The OECD has worsened its forecast for global GDP growth at the end of this year from 3% to 2.9%. Next year the organization expects this figure to decline to 2.7%, investing.com reports.
The main reason is the tight monetary policy of regulators, which they have pursued over the past two years. Its consequences will continue to exert pressure on the global economy, along with such negative factors as a decline in international trade and lower confidence in business circles and among consumers. This is stated in the official report of the OECD, published on Wednesday.
According to the organization, the inflation rate in most countries will continue to fall to the target values set by central banks. Next year in OECD countries it is expected to be 5.2% (at the moment this indicator is 7%). In 2025, it is projected to fall to 3.8%.
The main risk factors for the global economy OECD calls the growth of government debt, tense geopolitical situation and weakening of global trade.