OECD raises global growth forecast
(VOVWORLD) -The Organization for Economic Cooperation and Development (OECD) has raised its global growth forecast for 2018 and 2019 to 3.9 percent — the highest since 2011 — from a previous estimate of 3.6 percent for both years.
 OECD raises global growth forecast (Photo: Xinhua/VNA) |
The higher forecast was in part due to expectations that US tax cuts will boost economic growth there. Rebounding global business investment should keep global trade growth at about 5 percent this year. However, OECD believes this is a significant risk, adding that safeguarding the rules-based international trading system is key.