OECD cuts 2022 growth outlook on high inflation after war in Ukraine

Politics Economy

The Organization for Economic Cooperation and Development downgraded on Wednesday its global economic outlook for 2022 to a real 3.0 percent expansion as Russia's war in Ukraine sent food and energy prices sharply higher. The estimated growth of the world's gross domestic product was slashed 1.5 points from the previous December projection after Moscow began its invasion in late February. In 2021, the world's GDP expanded 5.8 percent. "The surge in commodity prices and the possible disruptions to production will have significant consequences for many economies," the biannual analysis by the Pa...

Kyodo News

Kyodo News