The world economy will grow in 2023 at a rate of 3% of GDP, the Organization for Economic Cooperation and Development (OECD) indicated this Tuesday, which increases its previous forecast by three tenths, but is more cautious for 2024.
«The impact of a more restrictive monetary policy is increasingly visible»says the international organization, based in Paris, in its latest report on the outlook for growth and inflation in the world.
Global growth will be higher in 2023 thanks to the United States, whose economy could progress by 2.2% (+0.6 points compared to the previous June projection), and emerging countries.
Brazil will grow 3.2% of GDP this year (+1.5 points); India, 6.3% (+0.3 points); Russia, 0.8% (+2.3 points); and South Africa, 0.6% (+0.3 points).
Among the BRICS countries, only China sees its expansion revised downwards, to 5.1% of GDP (-0.3 points).
Of the rest of the Latin American countries analyzed, Mexico would grow by 3.3% (+0.7) in 2023, while the Argentine economy would contract by 2% (-0.4).
In the euro zone, “where demand is already moderate”According to the OECD, the expansion will be 0.6% this year (-0.3 compared to June’s outlook), weighed down by Germany, which could fall into recession.
Spain registers the strongest growth of the main euro countries, with 2.3% of GDP (+0.2).
In 2024, global expansion will be 2.7% (-0.2 points compared to the previous projection), still weighed down by inflation and high interest rates.
For more than 18 months, central banks around the world have applied sharp increases in interest rates to curb inflation, revived by the pandemic and the war in Ukraine.
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