The OECD today downgraded its prospects for growth of the global economy for 2018 and 2019, which left 3.7% for both years, and warned that there are signs that the advance of global GDP may have reached its peak. In its report on interim perspectives, which reviews the semi-annual forecasts released in May, the Organization for Economic Cooperation and Development (OECD) highlighted that this increase of 3.7% is one and two tenths lower, respectively, than calculated less than four months for this year and next. For the whole of the G20, the group of large developed and emerging countries, predicts a rise of 3.9% in 2018 and 3.8% in 2019, one and three tenths less , and in the euro zone cuts two tenths, up to 2 and 1.9%.
The most significant drop compared to what was indicated in May affects Argentina: the OECD forecasts that its economy will fall 1.9% this year. Four months ago, its forecast was that Argentina’s GDP would grow by 2%. For next year, the agency predicts that the South American country will advance 0.1%, compared to the 2.5% growth predicted in May. Another one of the complicated scenarios is drawn, for the OECD, in Turkey, whose economy will still grow 3.2% this year (1.9 points less) but only 0.5% in 2019 (4.5 points less) The forecasts for the US remained practically the same, at 2.9% this year and 2.7% next (one tenth less), and did not change for China, with respective advances of 6.7% and 6%. , 4%.
The OECD argued that the rising interest rates in the US and the appreciation of the US dollar have contributed to the depreciation of the currency in many emerging economies, where countries such as Argentina or Turkey, with much external deficit or much debt in currency foreigners have been particularly exposed.
