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OECD corrects its forecasts –

OECD corrects its forecasts –

02/05/2024 at 21:00

The OECD assesses the situation of the global economy this year somewhat more optimistically compared to its previous forecast in November, but it still believes that global GDP growth this year will not reach last year.

Updated forecasts by the Organization for Economic Co-operation and Development (OECD) released on Monday said the global economy will grow by 2.9 percent this year, a 0.2 percentage point improvement over November, but less than 3.1 percent last year. percent of GDP growth.

According to the report's authors, the Indian economy will grow more this year, by 6.2 percent, an improvement of 0.1 percentage points compared to November. India's GDP expanded significantly last year by 6.7 percent.

China will be the country with the second-fastest economic growth this year, with its gross domestic product rising 4.7 percent as expected in November, a slowdown compared to 5.2 percent last year.

In the case of the euro zone, the OECD expects growth of 0.6 percent after last year's economic growth of 0.5 percent, instead of the 0.9 percent expected in November.

Among other things, in the case of Germany, the Paris-based organization estimates economic growth of 0.3 percent this year after last year's GDP decline of 0.1 percent, lower than the 0.6 percent indicated in November.

The Organization for Economic Cooperation and Development significantly raised its forecast for US GDP growth this year, from 1.5 percent to 2.1 percent, after the economy grew at a faster rate of 2.5 percent last year.

The G20, which includes the 19 largest economies and the European Union, changed its estimate for GDP growth this year from 2.8 percent to 2.9 percent, after the economy’s performance rose by 3.3 percent last year.

According to the OECD, the Turkish economy will grow this year at the rate expected in November, by 2.9 percent after last year's 4.1 percent, while the Russian economy will grow by 1.8 percent instead of the expected 1.1 percent after last year's economic expansion of 3.1 percent. The hundred.

In the G20 (excluding Argentina and Turkey), inflation is accelerating from 6.3 percent last year to 6.6 percent this year instead of the 5.8 percent estimated in November.

Eurozone inflation is expected to slow from 5.4% last year to 2.6% this year, instead of the 2.9% estimated in November. Inflation in the United States is expected to reach 2.2 percent this year instead of the 2.8 percent expected in November after 3.7 percent last year.

In China, after the inflation rate last year reached 0.4 percent, the inflation rate is expected to reach 1 percent this year, which is similar to the November estimate.

Argentina's highest inflation rate will be 250.6 percent this year, 93.5 percentage points higher than estimated in November and higher than 134.5 percent last year.

In the case of Turkey, the OECD raised its inflation forecast for this year by 1.9 percentage points, to 49.3 percent, after measuring 53.9 percent last year.

In the case of Russia, the inflation rate, which was 5.9 percent last year, will rise to 7.2 percent this year, the same rate that was expected in November.

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