World economy will grow only 3.1 percent this year and expand even more tepidly in 2023 due to high interest rates, inflation and Russia-Ukraine conflict – OECD
Global growth next year is estimated to come largely from the emerging market countries of Asia, projected to account for three-quarters of world growth.
In the OECD's estimation, the world economy will grow just 3.1 percent this year, down sharply from a robust 5.9 percent in 2021. “But this is a very, very challenging outlook, and I don’t think that anyone will take great comfort from the projection of 2.2 percent global growth.”The OECD expects the United States, the world's largest economy, to grow just 1.8 percent this year , 0.5 percent in 2023 and 1 percent in 2024.
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