OECD cuts 2016 growth forecast to 3.0%
Saudi Arabia economy
Paris - Arab Today
The OECD on Thursday cut its 2016 economic growth forecast by 0.3 percent to 3.0 percent owing to disappointing data, sluggish demand, weak investment and a "substantial" risk of financial instability.
"Financial instability risks are substantial," the Paris-based 34-member Organisation for Economic Cooperation and Development said in its latest interim outlook, urging a strong collective response to combat sagging global growth, which it predicts will not surpass 2015's already pallid showing.
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