OECD Keeps 2023 Global Growth Estimate at 2.2 Pct

Economy

Paris, Nov. 22 (Jiji Press)--The Organization for Economic Cooperation and Development said Tuesday that it has kept its estimate on world economic growth in 2023 unchanged from its September projection at 2.2 pct.

"Fighting inflation has to be our top policy priority right now," as real wages declined in many countries due to the fallout from the Russian invasion of Ukraine, such as soaring energy prices, the OECD said in its latest Economic Outlook report.

The OECD slightly raised its global gross domestic product growth projection for 2022 to 3.1 pct from 3.0 pct projected in September.

Inflation in OECD member countries is seen reaching 9.4 pct in 2022 before decelerating to 6.5 pct in 2023.

Japan's inflation is projected at 2.3 pct this year and 2.0 pct next year.

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