OECD Economic Outlook. Interim Report September 2023

OECD Economic Outlook. Interim Report September 2023

According to estimates by the Organization for Economic Co-operation and Development (OECD), in 2023 the average growth of the global economy will be 3%, in 2024 – 2.7%.

In 2023, the highest economic indicators are expected in India (6.3%), China (5.1%) and Indonesia (4.9%).

As the authors note, headline inflation continues to decline in many countries, driven by lower food and energy prices in the first half of 2023. However, core inflation—inflation excluding the effects of temporary seasonal and administrative factors—remains stubbornly high. According to forecasts, in 2024, general inflation in the G20 countries will be 2.6%, core - 2.8%.

Among the main risks of the global economy are the growth of debt dependence of developing countries, increasing structural imbalances in national financial systems, rising inflation, and a slowdown in the economic development of China.

To promote economic activity and reduce inflation, the OECD recommends pursuing tight monetary policy, lowering trade barriers and increasing funding for socially significant projects.

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