OECD hikes global economic growth outlook, but warns recovery fragile

2023 global growth forecast raised to 2.6% from 2.2% previously; OECD says risks to outlook remain high as interest rates rise


(Photo: Bloomberg)

Reuters Paris
The global economic outlook has improved from a few months ago as the inflation shock eases but rising interest rates will keep risks high, the OECD said on Friday, hiking its growth forecasts for major economies.

After growth last year of 3.2%, the world economy is on course to expand 2.6% as central bank tightening takes full effect, the Organisation for Economic Cooperation and Development said in its interim economic outlook.

The Paris-based organisation raised its forecast for global growth from 2.2% in its last Economic Outlook in November, citing a decline in energy and food prices and China's easing of its anti-Covid restrictions.

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First Published: Mar 17 2023 | 4:54 PM IST

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