OECD Slightly Raises World GDP Growth Forecast To 2.7%

Paris, June 7 (UrduPoint / Pakistan Point News - 7th Jun, 2023 ) :The OECD slightly raised its growth outlook for the world economy on Wednesday as inflation eases and China has dropped Covid restrictions, but it warned the recovery faces a "long road".

The Paris-based organisation forecast an economic expansion of 2.7 percent, up from 2.

6 percent in its previous report in March, with upgrades for the United States, China and the eurozone.

But it is still under the 3.3 percent growth recorded in 2022.

"The global economy is turning a corner but faces a long road ahead to attain strong and sustainable growth," OECD chief economist Clare Lombardelli wrote in the OECD's Economic Outlook.

"The recovery will be weak by past standards," Lombardelli wrote.

The growth forecast for 2024 remains unchanged at 2.9 percent.