The world as a whole has been jolted by the war in Ukraine, according to the Organisation for Economic Co-operation and Development (OECD), which cut almost all growth forecasts for the Group of 20 next year while anticipating further interest-rate hikes as well.
The global economy will expand just 2.2 percent in 2023, the Paris-based organization said Monday. The new projection for the year means output will be US$2.8 trillion less than officials had predicted at the end of 2021.
The OECD slashed GDP forecasts for most of the G-20, with only Indonesia featuring a moderately higher outlook. Many of the group face noticeably faster inflation too.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
