OECD Raises Growth Forecasts for Major Economies Despite High Risks from Rising Interest Rates

On Friday, the Organization for Economic Cooperation and Development (OECD) in Paris reported an improved global economic outlook compared to a few months ago, raising its growth forecasts for major economies.

The OECD predicts that the world economy will experience a 2.6% growth rate.

Despite the optimistic forecast, the OECD warns that risks remain high due to rising interest rates.

The group also forecasts a drop in inflation in the Group of 20 major economies from 8.1% last year to 5.9% this year and further to 4.5% in 2024.

As the global economy continues to recover from the pandemic, the OECD’s growth forecasts offer hope for economic stability.

However, the warning about rising interest rates and inflation suggests that challenges remain in the future.