The global economic growth outlook has started to brighten despite the impact of tighter monetary conditions. Global activity is proving relatively resilient, inflation is falling faster than initial projects and private sector confidence is improving. In its latest economic outlook report, the Organisation for Economic Cooperation and Development (OECD) reveals that global economic growth will remain at 3.1 percent this year and pick up to 3.2 percent in 2025. In its February forecasts, the OECD had projected growth of 2.9 percent this year and 3 percent in 2025.
Inflation falls closer to target
Headline inflation fell rapidly in most economies during 2023 due to restrictive monetary policies, lower energy prices, and easing of supply chain pressures. Food price inflation also declined sharply in most countries as key crops such as wheat and corn saw prices decline significantly…
