OECD Increases Forecast for Global Economic Growth in 2017

The Organisation for Economic Cooperation and Development (OECD) has altered its forecast to faster economic growth of the global economy next year due to initiatives for greater public spending which could provide a catalyst to business activity, helping the global economy extricate itself from the current trap of weak growth.

In its new three-month report on economic prospects, OECD confirmed its expectations for growth of the global economy of 2.9% in 2016, but predicted its acceleration to 3.3% in 2017, instead of the 3.2%, according to a previous report made in September.

OECD predicts growth of the global economy of 3.6% in 2018.

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