Home Economy OECD cuts forecast for global GDP growth in 2021 to 5.6%

OECD cuts forecast for global GDP growth in 2021 to 5.6%

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The Organization for Economic Co-operation and Development (OECD) has lowered its forecast for global economic growth in 2021 to 5.6% from the previously expected 5.7%. The estimate of world GDP growth next year remained at the same level as in the September forecast – 4.5%. It is expected to increase by 3.2% in 2023. “Our main scenario is that the global economic recovery will continue and the world will better cope with the pandemic, and monetary and fiscal policy will remain broadly supportive for 2022, ”the report says. The report notes that by the end of this year, US GDP growth will increase to 5.6%, in the next two years this figure will drop to 3.7% and 2.4%, respectively. China’s GDP growth rates will decline from 8.1% this year to 5.1% in 2022 and 2023, the eurozone – 5.2% at the end of this year, 4.3% and 2.5% – in 2022 and 2023 There is no chapter dedicated to Russia in the report, but the pace of its development is taken into account in global forecasts, OECD spokesman Laurence told TASS …

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