World, Economy

World economy to grow by 4.5% in 2022: OECD

Turkey's economy to grow by 9% in 2021, 3.3% next year, 3.9% in 2023, report says

Gökhan Ergöçün   | 01.12.2021
World economy to grow by 4.5% in 2022: OECD


The Organization for Economic Co-Operation and Development (OECD) released a forecast that the global economy will grow by 4.5% next year.

"The global economy continues to recover, along with trade, employment and incomes, but the revival is unbalanced, with countries, businesses and people facing very different economic realities," the report said on Wednesday.

It underlined: "Recent improvements also conceal structural changes, which mean that some sectors, jobs, technologies and behaviours will not return to their pre-pandemic trends."

The organization's central scenario is expecting that fiscal policies will continue to be supportive in 2022.

After a GDP growth rate of 5.6% this year, the world growth can enlarge by 4.5% in 2022, and by 3.2% in 2023. The report's expectation for the eurozone is 5.2% for this year, 4.3% for 2022, and 2.5% for 2023.

The OECD said the Turkish economy will grow by 9% in 2021, 3.3% next year, and 3.9% in 2023.

The US economy is expected to grow by 5.6% in 2021, 3.7% in 2022, and 2.4% in 2023, while the Chinese economy will grow by 8.1% this year and 5.1% both next year and in 2023.

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