According to Investing.com, the OECD (Organization for Economic Co-operation and Development) has revised its growth expectations for the global and regional economies in 2021-2022.
The organization has forecast global economic growth from 4.2% to 5.6% in 2021. For the year 2022 it rose from 3.7% to 4%.
The change in the forecast for Turkey in 2021 is remarkable. Expecting a growth of 2.9% for 2021, the OECD raised this forecast to 5.9% while revising it down for 2022 and lowering it from 3.2% to 3.0%.
The institution, which went through double revisions for the USA, increased the rates it predicted for 2021 from 3.2% to 6.5%. It reduced its 2021 growth expectation for China from 8% to 7.8%
For the UK, the growth forecast for 2021 has been raised from 4.2% to 5.1%.
The 2021 growth forecast for France has been lowered from 6% to 5.9%, but the growth forecast for 2022 has been increased from 3.3% to 3.8%.
The growth rate for Germany, which is estimated at 2.8% in 2021, has been revised to 3.0% and the growth forecast for 2022 to 3.7%.