OECD Economic Outlook, Volume 2023 Issue 1
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Global economic developments have begun to improve, helped by lower energy prices, improving business and consumer sentiment, and the reopening of China. However, the OECD Economic Outlook highlights that the upturn is fragile and the recovery is set to remain weak by past standards, with the effects of tighter monetary policy increasingly being felt. The Outlook underlines a range of risks, including the possibility that inflation could prove more persistent than projected and that the impact of higher interest rates on financial markets and economic activity could be stronger than expected. Well-calibrated policy measures are required to unwind the impact of the recent sequence of negative shocks to the global economy, restore economic stability, and strengthen prospects for strong, inclusive and sustainable improvements in living standards.
This issue includes an assessment of the global economic situation, a chapter on promoting gender equality to strengthen economic growth and resilience and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD members as well as for selected partner economies.
Also available in: French
Bulgaria
Growth is projected to slow to 1.9% in 2023 due to global headwinds, including the slowdown in Bulgaria’s main trading partners, but then rebound to 3.2% in 2024. Private consumption growth will slow in line with lower employment growth. The disbursement of EU funds was delayed in 2022, but is expected to catch up to a large extent in 2023. Inflation is expected to moderate in 2023 and in 2024, but there are risks from high wage increases.
Also available in: French