OECD Downgrades Global Growth Outlook
20 Septiembre 2018 - 12:33AM
RTTF2
The Organization for Economic Cooperation & Development, on
Thursday, downgraded it global growth projections for both 2018 and
2019, and signaled that the impact of the trade war between the US
and China has started showing.
According to Interim Economic Outlook, released Thursday, the
global economy will grow 3.7 percent each this year and next. In
May, the OECD had projected 3.8 percent expansion for 2018 and 3.9
percent for 2019.
The United States will expand 2.9 percent in 2018 and 2.7
percent in 2019, the agency said. China's growth is seen at 6.7
percent this year and 6.4 percent in 2019.
Growth is expected remain modest in the UK at 1.4 percent this
year and 1.3 percent next year, owing to high uncertainties about
the outcome of Brexit negotiations.
In Turkey, growth is expected to stay around 5 percent this year
and next. "The uncertainties surrounding the early elections in
June, as well as persisting regional geopolitical tensions, create
risks," the OECD said.
The Paris-based think tank said escalating trade tensions,
tightening financial conditions in emerging markets and political
risks could further undermine strong and sustainable medium-term
growth worldwide.
"Trade tensions are starting to bite, and are already having
adverse effects on confidence and investment plans," OECD Chief
Economist Laurence Boone, said.
"Trade growth has stalled, restrictions are having marked
sectoral effects and the level of uncertainty on trade stances
remains high."
With tighter financial conditions creating stress on a number of
emerging economies, especially Turkey and Argentina, a strong and
stable policy framework will be key to avoid further turbulence,
added Boone.
The think tank urged policymakers to enhance resilience, boost
productivity and improve inclusiveness.
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