The world economy faces a long and fragile recovery from the COVID-19 pandemic and fallout from the Russian war in Ukraine, hobbled by chronic inflation and rising interest rates, the Organization for Economic Cooperation and Development (OECD) said.
In its latest Economic Outlook released Wednesday, the Paris-based group projected global growth of just 2.7% this year, the lowest annual rate since the 2008 financial crisis. Only a modest improvement is expected in 2024, with an output of 2.9%.
Read More : OECD Warns of ‘Long Road’ Ahead for Global Economy’s Recovery