Growth will be slower than expected in the world, recession will deepen in Hungary

The Organization for Economic Cooperation and Development (OECD) revised downward its forecast for global growth, referring to the uncertainty in the global economy.

According to the forecast; the global economy will expand by 3.8 percent this year instead of the previously expected 4.2 percent. For next year, expansion will be 3.4 percent o instead of the previously expected 4.6 percent. In 2013, OECD expects 4.3 percent.

According to the OECD Hungary will sink into recession next year and to restore investor confidence, the OECD urges credit agreement with the International Monetary Fund (IMF) – reports MTI.