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The OECD Is Urging Industrialized Governments
The OECD is urging industrialized governments not to take the breath away from economic recovery too soon.
Yazar: Tom Roberts
Yayınlanma: 16 Eylül 2020 22:13
Güncellenme: 5 Kasım 2024 16:00
The OECD Is Urging Industrialized Governments
The OECD is urging industrialized governments not to take the breath away from economic recovery too soon. "We are living through an acute health crisis and the most dramatic economic downturn since World War II," said OECD chief economist Laurence Boone. "There is still no end in sight, but politicians can do a lot to build trust now." Governments must avoid the mistake of tightening fiscal policy too quickly, as happened after the last financial crisis. "Without continued support, bankruptcies and unemployment could rise faster than necessary and put a strain on people's livelihoods for years," warned Boone. For this year, the Organization for Economic Cooperation and Development (OECD) expects global economic output to decline by 4.5 percent. But next year it should increase again by five percent. Meanwhile, the German economy is coming through the corona crisis comparatively well, according to a forecast by the OECD. The gross domestic product is likely to collapse by 5.4 percent this year, according to the interim report. In June, the industrial nations organization had assumed minus 6.6 percent. For comparison: In France (-9.5 percent), Italy (-10.5) and the euro zone as a whole (-7.9) the economy is likely to contract more strongly, as is the UK (-10.1) and Japan (- 5.8). In the USA, on the other hand, the decline is likely to be milder at 3.8 percent. China is even expected to grow by 1.8 percent.İLGİLİ HABERLER
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