{"id":112406,"date":"2024-02-05T18:55:58","date_gmt":"2024-02-05T18:55:58","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9"},"modified":"2024-02-05T19:28:20","modified_gmt":"2024-02-05T19:28:20","slug":"oecd-revises-up-2024-global-growth-forecast-to-2-9","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9","title":{"rendered":"OECD revises up 2024 global growth forecast to 2.9%"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>The Organization for Economic Cooperation and Development (OECD) on Monday revised up its global economic growth forecast for 2024 to 2.9%, from its previous projection of 2.7% in November.<\/p>\n

This will follow a 3.1% growth last year with inflation declining more quickly than anticipated, the Paris-based organization said in its February Interim Economic Outlook report.<\/p>\n

The global GDP growth is projected to pick up pace in 2025 to come in at 3%, thanks to ease of financial conditions, in line with the previous report.<\/p>\n

The OECD revised up the US economic growth by 0.6 percentage points to 2.1% for 2024, backed by household spending and strong labor market conditions, but left it unchanged at 1.7% for 2025.<\/p>\n

With activity held back by tight credit conditions in the near term, the eurozone GDP is estimated to rise 0.6% this year and 1.3% next year, revised downwards by 0.3 percentage points and 0.2 percentage points, respectively.<\/p>\n

The OECD has kept China’s growth forecast constant at 4.7% in 2024 and 4.2% in 2025 due to subdued consumer demand, high debt, and the weak property market.<\/p>\n

Tu\u0308rkiye’s GDP is foreseen at 2.9% in 2024 and 3.2% in 2025.<\/p>\n

Turkish economy’s growth forecast was held at 2.9% for 2024 and revised down by 0.1 percentage points to 3.1% in 2025.<\/p>\n

The OECD foresees inflation will be back to target in most G20 countries by the end of next year with headline figure falling from 6.6% this year to 3.8% in 2025.<\/p>\n

The core inflation in the G20 advanced economies will ease to 2.5% this year and 2.1% next year, it added.<\/p>\n

The OECD warned that the growth could be weaker than expected if the lingering effects from past policy rate hikes are stronger than expected.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. The Organization for Economic Cooperation and Development (OECD) on Monday revised up its global economic growth forecast for 2024 to 2.9%, from its previous projection of 2.7% in November. This will follow a 3.1% growth last year with inflation declining more quickly than anticipated, the Paris-based organization said in its February Interim […]<\/p>\n","protected":false},"author":84,"featured_media":112405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,9412,9305,544,8411],"class_list":{"0":"post-112406","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","6":"hentry","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-kenya","13":"tag-kenya","14":"tag-oecd"},"yoast_head":"\nOECD revises up 2024 global growth forecast to 2.9% - kenya<\/title>\n<meta name=\"description\" content=\"The Organization for Economic Cooperation and Development (OECD) on Monday revised up its global economic growth forecas ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OECD revises up 2024 global growth forecast to 2.9%\" \/>\n<meta property=\"og:description\" content=\"The Organization for Economic Cooperation and Development (OECD) on Monday revised up its global economic growth forecas ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-05T18:55:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-05T19:28:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/02\/sm_1707148413.055453.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"OECD revises up 2024 global growth forecast to 2.9%\",\"datePublished\":\"2024-02-05T18:55:58+00:00\",\"dateModified\":\"2024-02-05T19:28:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9\"},\"wordCount\":280,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/02\/sm_1707148413.055453.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"global growth\",\"growth forecast\",\"Kenya\",\"OECD\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/oecd-revises-up-2024-global-growth-forecast-to-2-9\",\"name\":\"OECD revises up 2024 global growth forecast to 2.9% - 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