The Organisation for Economic Cooperation and Development (OECD) is clear about this, in the presentation of its most recent report “OECD Economic Outlook” in which it practically updates its analytical vision on the outlook for the two years to come.
The text notes that the world economy continues to face the challenges of inflation and low growth prospects. GDP growth has been stronger than expected so far in 2023, but is now moderating due to tighter financial conditions, weak trade growth and weaker business and consumer confidence.
Risks to the near-term outlook remain tilted to the downside and include rising geopolitical tensions, for example, due to the evolving conflict following the Hamas terrorist attacks against Israel; and a larger than expected impact of monetary policy tightening. On the positive side, growth could also be stronger if households…
