The global economy is growing at the slowest pace since the financial crisis as governments leave it to central banks to revive investment, the OECD said on Thursday in an update of its forecasts. The world economy is projected to grow by a decade-low 2.9% this year and next, the Organisation for Economic Cooperation and Development said in its Economic Outlook.
Offering meager consolation, the Paris-based policy forum forecast growth would edge up to 3.0% in 2021, but only if a myriad of risks ranging from trade wars to an unexpectedly sharp Chinese slowdown is contained. A bigger concern, however, is that governments are failing to get to grips with global challenges such as climate change, the digitalization of their economies and the crumbling of the multilateral order.
Post by : Republic of Turkey Ministry of Trade