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This Interim Report updates projections made in the November 2015 issue of OECD Economic Outlook (Number 98).
The global economy proved resilient in 2023, but there are signs that growth is easing as restrictive monetary policy takes effect. Global growth is projected to remain moderate in 2024 and 2025, with inflation declining towards target in most countries by 2025. Key near term risks include high geopolitical tensions, particularly if the conflict in the Middle East were to disrupt energy markets, and uncertainty about the strength of the ongoing impact from higher interest rates.
The Interim Report says that monetary policy should remain prudent to ensure that inflation returns durably to target, though policy interest rates can be lowered as inflation declines. Governments need to focus on ensuring fiscal sustainability, including through measures to reduce future spending pressures. Structural policy reforms are needed to strengthen the foundations for sustainable growth, with key priorities being to accelerate decarbonisation, revive global trade and improve educational outcomes.
The Interim Report is an update on the assessment in the OECD Economic Outlook, Volume 2023 Issue 2 (Number 114).
This interim OECD Economic Outlook analyses the current crisis and examines the economic policies required to foster a sustained recovery in member countries. This issue covers the outlook to end-2010 for both OECD and major non‑OECD economies. A particular spotlight is put on fiscal policy in a special chapter entitled The Effectiveness and Scope of Fiscal Stimulus. It addresses the following issues: How governments in OECD countries changed the stance of fiscal policy in response to the crisis and What is the scope for additional fiscal stimulus in OECD countries to cushion the recession and help the recovery.
This Interim Report updates projections made in the November 2013 issue of OECD Economic Outlook (Number 94).
This Interim Report updates projections made in the November 2014 issue of OECD Economic Outlook (Number 96).
This Interim Report updates projections made in the November 2016 issue of OECD Economic Outlook (Number 100).
The COVID-19 pandemic continues to cast a long shadow over the world’s economies but economic prospects have improved with the forthcoming global vaccines rollout, although divergences are increasing across and within countries.
This Interim Report provides updates for G20 country projections made in the December 2020 issue of the OECD Economic Outlook (Number 108).
The effect of the war in Ukraine on OECD countries, and beyond, will be profound. The humanitarian cost is already extremely high: millions of people are fleeing the war zone.
This Interim Report focuses on the potential economic and social consequences of the war. The war is expected to slow the global recovery from the COVID-19 pandemic and further push up inflation worldwide.
Short-term economic prospects have improved, helped by lower commodity prices and the reopening of China, with global growth set to pick up moderately and inflation declining gradually. However, downside risks predominate.
The Interim Report highlights that the recovery remains fragile, with key risks stemming from uncertainty about the war in Ukraine and energy market developments, and significant financial vulnerabilities. Well-designed policy measures are required to reduce inflation pressures, ensure better-targeting of fiscal policy support, and revive sustainable growth. The Interim Report is an update on the assessment in the November 2022 issue of the OECD Economic Outlook (Number 112).
This Interim Report updates projections made in the June 2009 issue of OECD Economic Outlook (Number 85). It finds that recovery from the global recession is likely to arrive earlier than had been expected a few months ago but the pace of activity will remain weak well into next year. It suggests that governments will need to continue to stimulate their economies as rising unemployment and weak housing markets continue to dampen private demand.