OECD lowers global economic growth forecast for 2019


The Organization for Economic Cooperation and Development reported a deterioration in the forecast for global GDP growth for 2019 from 3.7% to 3.5%. The main risks for global growth are trade disputes and monetary policy tightening by leading central banks. The growth forecast for the current year has been kept at the level of 3.7%. Compared with last year's rise of 3.6%, economic growth accelerated this year. Also, the OECD has made a growth forecast for 2020. According to its estimates, GDP growth in 2020 will be 3.5%. The report notes that the record low unemployment rate in many countries is causing an insufficient number of skilled workers. It also points to a slowdown in the growth of trade and investment against the background of the introduction of trade duties. In developing countries, there is an outflow of capital and a weakening of national currencies, which is caused by a rise in US interest rates and a stronger dollar.

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