Matthias Cormann, Secretary General of the Organization for Economic Co-operation and Development, stated that the outlook for the global economy is slightly better this year, but inflation challenges remain.
In statements to CNBC, Korman said that with the beginning of 2023, expectations for the performance of the global economy are better than they were two or three months ago.
And the Secretary of the Organization added before the upcoming meeting of financial leaders within the Group of 20: In fact, energy and food prices are much lower than they were at their peak. Energy is what has kept gas prices low.
Corman continued: The global economy is expected to grow much less than pre-war expectations, by about 3.1% in 2022 and 2.2% in 2023, before recovering slightly to 2.7% in 2024.
On inflation, Korman stressed that its risks remain and need to be managed well.
And he continued: Inflation is starting to decline, but more work needs to be done to address inflation, which carries risks, and there will be a need to continue to manage those risks well for weeks and months.
Central banks, led by the Federal Reserve, have tended over the past year to raise rates to curb soaring inflation.
