OECD’s interim economic outlook, March 2017

Abstract

The OECD’s overall projection for the global economy is for a modest pick-up in global growth. The bad news is that this remains too slow to make good on commitments and expectations, and has fragile foundations of sluggish productivity growth and rising inequalities. Further, a range of financial vulnerabilities have built up, and there is the threat of rising trade protectionism. To grow the global economy and share the prosperity, we need to introduce fiscal initiatives using the fiscal space gained by low or negative interest rates. These combined fiscal-and-structural initiatives to boost inclusive growth can support demand in the near term but also will address medium-term supply issues.