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OECD MINISTERIAL COUNCIL MEETING 2023
Securing a Resilient Future: Shared Values and Global Partnerships

ECONOMIC OUTLOOK, JUNE 2023
Global economy shows signs of improvement – but downside risks persist

SOVEREIGN BORROWING OUTLOOK 2023
Rising sovereign borrowing costs put spotlight on public debt management

GENDER EQUALITY
Why OECD countries must step up efforts to boost gender equality

In focus

Global economic outlook improving – but core inflation may weigh on growth

Global GDP growth in 2023 is projected to reach 2.7% – the lowest annual rate since the global financial crisis (except for 2020 when the COVID-19 pandemic hit). While expected to increase to 2.9% in 2024 as inflation moderates and real incomes increase, below-trend growth rates underline the downside risks in the global economy.

Core inflation is proving persistent despite the easing of heading inflation as energy prices have fallen. The resulting need for maintaining restrictive monetary policy is increasingly weighing on global economic output.

Pressures on government budgets will require policy action, including better targeting of fiscal support measures at more vulnerable households and prioritising structural reforms to bolster long-term growth potential.

> Explore: OECD Economic Outlook 2023 (7 June)

 

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