{"id":606713,"date":"2023-09-20T00:00:00","date_gmt":"2023-09-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/20\/global-growth-to-slow-to-2-7-next-year-oecd\/"},"modified":"2023-09-20T00:00:00","modified_gmt":"2023-09-20T00:00:00","slug":"global-growth-to-slow-to-2-7-next-year-oecd","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/09\/20\/global-growth-to-slow-to-2-7-next-year-oecd\/","title":{"rendered":"Global growth to slow to 2.7% next year -OECD"},"content":{"rendered":"

OECD predicts global growth slowdown in 2024: <\/strong> Global growth will slow to 2.7% in 2024 from an expected 3.0% this year on the back of tightening global financial conditions and a slowdown in China, according to new OECD forecasts, Bloomberg<\/a> reports.<\/p>\n

Not great: <\/strong> A 2.7% growth rate would mark the weakest annual expansion since the global financial crisis, with the exception of 2020 when the covid-19 pandemic hit, according to Bloomberg. <\/p>\n

Global debt hits new record: <\/strong>Global debt climbed to a fresh high of USD 307 tn in the second quarter of 2023, lifted by continued borrowing in developed economies, according to figures from the Institute of International Finance (IIF) picked up by Reuters<\/a>. The global financial institution said that the global debt-to-GDP ratio also lept to 336% due to slowing growth and disinflation.<\/p>\n

Expect new highs in the coming quarters: <\/strong>\u201cAs higher rates and higher debt levels push government interest expenses higher, domestic debt strains are set to increase,\u201d the IIF warned.<\/p>\n

ALSO WORTH NOTING- <\/strong><\/p>\n