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Saturday, March 25, 2023

OECD notes global GDP growth “fragile” due to pandemic and Ukraine crisis

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I am Annabelle Sampson and I work for The News Dept as an author for their news department. My main focus is on economy news, but I also cover other topics such as business, finance, and current affairs. My writing has been featured in prominent publications such as The Wall Street Journal, Forbes Magazine, and the Financial Times. I have a passion for learning more about economic trends and understanding how they affect businesses of all sizes. To stay up to date with the latest developments in the field of economics, I make sure to keep track of reliable sources like Bloomberg News or Reuters. In addition to my writing work, I often provide consultation services related to economic matters for clients both large and small.

Representatives of the Organization for Economic Cooperation and Development reported a “fragile” recovery from the coronavirus pandemic and the intensifying crisis in Ukraine.

The OECD predicted that global GDP growth from 2.6% this year will rise to 2.9% next year. Organization representatives predicted that the long-term risks related to energy supply and inflation would decrease in the coming months. The fastest growing economy in the world this year will be China – its growth will be 5.3%. For comparison, Xinhua writes that the US GDP growth rate will be 1.5% in 2023 and 0.9% next year.

Earlier, the Ministry of Economy of Ukraine released February data on the decline in economic growth. The Ukrainian economy’s decline last month was 26%, but in January this year it was 32%.

Source: Riafan

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