Belgium, (Brussels Morning Newspaper) The Organisation for Economic Co-operation and Development (OECD) warned that large economies are facing recessions due to inflation and energy crisis.
The OECD revised its global GDP growth for next year from 2.8% to 2.2%, but maintained the forecast for this year at 3%, according to Reuters reporting on Monday.
The OECD warned that the situation in Europe is difficult as economies are directly tied to Russia and its fossil fuel supplies, noting that expected global GDP is USD 2.8 trillion lower compared to before the start of the war in Ukraine.
Continue reading OECD warns large economies face recession at Brussels Morning Newspaper.
