OECD slashes growth outlook, but sees limited stagflation risk

Says world economy to grow 3% this year, much less than the 4.5% expected earlier

The war in Ukraine has made the growth outlook far bleaker even though the global economy should avoid a bout of 1970s-style stagflation, the OECD said on Wednesday, slashing its growth forecasts and jacking up its inflation estimates.
 

The world economy is set to grow 3 per cent this year, much less than the 4.5 per cent expected when the Organisation for Economic Cooperation and Development last updated its forecasts in December.
 

Growth will then slow further next year, easing to 2.8 per cent, down from a previous forecast of 3.2 per cent, the Paris-based policy forum said in its