|A supermarket in South Korea. (Photo: Xinhua/VNA)
In its latest report, the OECD maintained its forecast for global economic growth in 2022 at 3% but it slashed its 2023 growth forecast to 2.2%, down from 2.8% in its previous estimate in June.
The outlook for nearly all nations among the Group of 20 top economies were cut, except for Turkey, Indonesia and Britain, though the latter is forecast to have zero growth.
Growth in the US – the world’s biggest economy – is projected to slow to 0.5% in 2023.