OECD: global economy is slowing faster than expected this year

The Paris-based Organization for Economic Co-operation and Development (OECD) has worsened its forecast for global economic growth this year.

According to the OECD’s biannual forecast, this year’s global economic growth has declined from 3.2 percent to 2.9 percent this year and next year from 3.4 percent to 2.9 percent is expected, and estimates that GDP will grow by 3 percent in 2021. Global GDP grew by 3.5 percent last year. (MTI)