{"id":572119,"date":"2020-06-11T04:14:18","date_gmt":"2020-06-11T04:14:18","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/11\/where-does-the-global-economy-go-from-here-the-oecd-is-out-with-two-scenarios-and-neither-are-particularly-good\/"},"modified":"2020-06-11T04:14:18","modified_gmt":"2020-06-11T04:14:18","slug":"where-does-the-global-economy-go-from-here-the-oecd-is-out-with-two-scenarios-and-neither-are-particularly-good","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/11\/where-does-the-global-economy-go-from-here-the-oecd-is-out-with-two-scenarios-and-neither-are-particularly-good\/","title":{"rendered":"Where does the global economy go from here? The OECD is out with two scenarios, and neither are particularly good."},"content":{"rendered":"

<\/a> Where does the global economy go from here? The OECD is out with two <\/strong>scenarios, and neither is particularly good.<\/strong> The global economy is on course to contract by 6% this year but if a second wave hits before the end of the year activity will tank even further, falling by 7.6%, the OECD said in its latest Economic Outlook<\/a>. Unemployment in OECD countries is currently on track to rise to 9.2% before the end of the year, but in the second scenario the jobless count will double to 10%. The numbers are far worse than those put out in April by the IMF<\/a>, which forecast global growth to contract by 3% this year.<\/p>\n

No good options:<\/strong> Whatever trajectory the virus takes from here, it\u2019s going to take a long time for the global economy to properly find its feet and living standards to return to pre-pandemic levels. While the OECD expects a rapid bounce-back in growth in early 2021, it doesn\u2019t believe this will be sustained, with economic activity in OECD countries slipping back through the rest of the year. \u201cMost people see a V-shaped recovery, but we think it\u2019s going to stop halfway\u201d the Financial Times<\/a> quoted OECD chief economist, Laurence Boone, as saying. \u201cBy the end of 2021, the loss of income exceeds that of any previous recession over the last 100 years outside wartime, with dire and long-lasting consequences for people, firms and governments.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Where does the global economy go from here? The OECD is out with two scenarios, and neither is particularly good. The global economy is on course to contract by 6% this year but if a second wave hits before the end of the year activity will tank even further, falling by 7.6%, the OECD said […]<\/p>\n","protected":false},"author":1,"featured_media":572120,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9272],"tags":[107,104,928,72,348,1701,527,1510],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-572119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-macro-picture","tag-covid-19","tag-economy","tag-employment","tag-enterpriseam","tag-gdp","tag-oecd","tag-pandemic","tag-the-macro-picture","wpautop","entry"],"acf":{"mongo_id":"ea1c70ce-027f-46a8-ba6a-11a69f0281b1","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/6\/137.jpg","photo_position":"above","related_issue":[572102],"teaser":"","voice_url":""},"yoast_head":"\nWhere does the global economy go from here? The OECD is out with two scenarios, and neither are particularly good. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2020\/06\/11\/where-does-the-global-economy-go-from-here-the-oecd-is-out-with-two-scenarios-and-neither-are-particularly-good\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Where does the global economy go from here? The OECD is out with two scenarios, and neither are particularly good.\" \/>\n<meta property=\"og:description\" content=\"Where does the global economy go from here? The OECD is out with two scenarios, and neither is particularly good. 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Trade growth is predicted to weaken to around 2%, its lowest rate\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/5\/3437.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566201,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/02\/its-good-news-bad-news-from-the-oecd\/","url_meta":{"origin":572119,"position":1},"title":"It\u2019s good news \/ bad news from the OECD","author":"enterpriseam admin","date":"2 June 2021","format":false,"excerpt":"The OECD is out with its latest global economic outlook \u2014 and there\u2019s good news and bad news. The good news is that the world\u2019s most advanced economies look set to stage a stronger-than-anticipated recovery, returning to pre-covid levels by next year. The bad news? Most everyone else is going\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554375,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/02\/global-inflation-could-continue-rising-thanks-to-omicron-and-the-never-ending-supply-chain-crisis\/","url_meta":{"origin":572119,"position":2},"title":"Global inflation could continue rising thanks to Omicron and the never-ending supply chain crisis","author":"enterpriseam admin","date":"2 December 2021","format":false,"excerpt":"A convergence of the new Omicron strain + the shipping crisis could push up global inflation and undermine the post-covid recovery in a big way. That\u2019s the headline message from two recent reports from the United Nations Conference on Trade and Development (UNCTAD) and the Organization for Economic Cooperation and\u2026","rel":"","context":"In "THE MACRO PICTURE"","block_context":{"text":"THE MACRO PICTURE","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-macro-picture\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/571.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563443,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/04\/egypt-on-board-with-minimum-global-corporate-tax-rate\/","url_meta":{"origin":572119,"position":3},"title":"Egypt on board with minimum global corporate tax rate","author":"enterpriseam admin","date":"4 July 2021","format":false,"excerpt":"Egypt joins 129 other countries in OECD global corporate tax plan: Egypt has signed on to a plan by the Organisation for Economic Co-operation and Development (OECD) to introduce a minimum global corporate tax rate of 15%, according to a statement by Finance Minister Mohamed Maait. So far, 130 countries\u2026","rel":"","context":"In "Tax"","block_context":{"text":"Tax","link":"https:\/\/enterpriseam.com\/egypt\/category\/tax\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/16.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":638727,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/12\/gender-equality-is-good-for-business-oecd\/","url_meta":{"origin":572119,"position":4},"title":"Gender equality is good for business -OECD","author":"enterpriseam admin","date":"12 October 2017","format":false,"excerpt":"Gender-based discrimination in laws costs MENA countries USD 575 bn annually, the Organisation for Economic Co-operation and Development (OECD) report estimates. \u201cGender equality is not only good for women, it\u2019s good for businesses, it\u2019s good for sound economies and it\u2019s good for happier societies,\u201d Gabriela Ramos, OECD chief of staff,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556493,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/27\/oecd-to-support-structural-econ-reform-through-three-year-program\/","url_meta":{"origin":572119,"position":5},"title":"OECD to support structural econ reform through three year program","author":"enterpriseam admin","date":"27 October 2021","format":false,"excerpt":"Prime Minister Moustafa Madbouly signed an MoUwith OECD Secretary-General Matthias Cormann for a three-year country program to support Egypt\u2019s structural economic reform agenda, according to a cabinet statement. The program lays out a plan for Egypt and the OEC to roll out 35 projects under five pillars: Inclusive and sustainable\u2026","rel":"","context":"In "Diplomacy"","block_context":{"text":"Diplomacy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/diplomacy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/572119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=572119"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/572119\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/572102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/572120"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=572119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=572119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=572119"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=572119"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=572119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}