OECD: Food price inflation fell sharply in most countries

By: Trademagazin Date: 2024. 05. 02. 12:35

The Paris-based Organization for Economic Cooperation and Development, the OECD, slightly improved its global growth forecast for this year and next year compared to its previous estimate from February.

According to a document published on the OECD website, after 3.1 percent in 2023, global GDP growth will be 3.1 percent this year as well, and will improve slightly in 2025, rising to 3.2 percent, despite unfavorable geopolitical factors such as the Russian-Ukrainian war, the escalation in the Middle East and the tightening financial environment. In its February forecast, the OECD put this year’s global growth rate at 2.9 percent and 2025 at 3.0 percent.

The growth rate of the G20 will remain at 3.1 percent in 2025, and the center of gravity of global growth will shift to emerging regions. The OECD puts Hungary’s growth at 2.1 percent this year and 2.8 percent next year.