Paris, Jun. 7, (dpa/GNA) – The Organization for Economic Cooperation and Development (OECD) presented its latest economic outlook on Wednesday and predicted that the global economy was on a slow path to recovery.
The lowest point of the latest economic downturn seems to have been reached, the report said, as energy prices and overall inflation continue to fall.
Supply bottlenecks are easing and the financial situation of private households is relatively solid, the OECD said as it presented the report in Paris.
In its new economic outlook, the OECD expects global growth to reach 2.7% in 2023, accelerating slightly to 2.9% in 2024.
This will still be well below the average of the 10 years before the coronavirus pandemic.
In Germany, the economy is expected to stagnate this year and grow by 1.3% in 2024, according to the OECD forecast.
Politicians must act decisively to bring about stronger and more sustainable growth through economic and structural policy measures, the OECD said.
This will be difficult, however, as inflation remains too entrenched, debt too high and potential output too low.
GNA