OECD changes its world economic growth forecast
By Abdul Kerimkhanov
The Organization For Economic Cooperation And Development (OECD) expects world economic growth of 3.2 percent in 2019 instead of the previously forecast 3.3 percent. In 2018, the rise in real GDP was 3.5 percent.
In 2020, the OECD expects global GDP to increase to 3.4 percent, according to OECD Economic Outlook. This coincides with the previous forecast published in March.
The outlook says that global growth slowed sharply in late 2018 and is now stabilizing at a moderate level.
"Escalation of trade conflicts and dangerous financial vulnerability threaten new easing of activity, undermining investment and confidence around the world," says the report.
The world economy is expected to show moderate but fragile growth over the next two years. Experts consider that vulnerabilities are associated with trade tensions, high political uncertainty, risks in financial markets and a slowdown in China's economic recovery, all of which can further limit a strong and sustained global recovery in the medium term.
The Organization For Economic Cooperation And Development (OECD), established in 1961, headquarters in Paris, France. OECD mission is to promote policies that will improve the economic and social well-being of people around the world.
OECD provides a forum in which governments can work together to share experiences and seek solutions to common problems. The Organization works with governments to understand what drives economic, social and environmental change.
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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94
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