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Energy, inflation crises risk pushing big economies into recession: OECD

In a bleak report titled Paying the price of war, the Paris-based organisation noted that the conflict aggravated inflationary pressure when the cost of living was already rising quickly.

Photo: Bloomberg
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Global economic growth is slowing more than was forecast a few months ago in the wake of Russia’s invasion of Ukraine, as energy and inflation crises risk snowballing into recessions in major economies, the OECD said on Monday.
 
While global growth this year was still expected at 3.0 per cent, it is now projected to slow to 2.2 per cent in 2023, revised down from a forecast in June of 2.8 per cent, the Organisation for Economic Cooperation and Development said.
 
In a bleak report titled Paying the price of war, the Paris-based organisation noted that the conflict aggravated inflationary

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First Published: Sep 26 2022 | 10:03 PM IST

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