In their report “OECD Economic Outlook, March 2023 Interim Report”, estimated global growth of 2.6%, but for Argentina it lowered its projections to 0.1% in contrast to what is projected for China, which expects growth of 5.3%.
Around the world the economy has slowed down during 2022being one percentage point lower than the expectations that were projected in 2021.
Lower food prices are crucial, gave confidence at the beginning of 2023, since at the beginning of the war prices had reached unexpected values. This slight drop foresees greater purchasing power in households.
The OECD is optimistic about the reopening of Chinabecause this will have a global impact on the supply chain and international tourism.
On the other hand, falling energy costsas a consequence of a warm winter, boost business growth. These factors contribute to reducing the world inflation.
In general terms, inflation in most countries begins to slowwith the exception, for now, of Argentina.
During the pandemic consumption was reduced resoundingly, today it can be said that the world is gradually recovering pre-pandemic consumption levels.
Alvaro Pereiraacting chief economist of the OECD stated that the world economy is not experiencing a “systemic crisis”and clarified that it is “in a very different situation from that of 2008”.
“We have created a stronger regulation, central banks and regulators have also learned from past crises“, and stressed that “most banks in the world are very well capitalized.”
Source: Ambito
