The Organisation for Economic Co-operation and Development (OECD) has corrected its economic forecast upwards - also for Germany.
Paris (dpa) - After the slump due to coronavirus slump last year, the OECD association of industrialised countries now envisages a significantly improved economic situation. The global economy is expected to grow by 5.8 percent in the current year, 0.2 points more than assumed in March, the Organisation for Economic Co-operation and Development (OECD) announced in Paris on Monday. For the coming year, an increase of 4.4 percent is anticipated, 0.4 points higher than before.
According to the OECD, the economic horizon is also brightening in Germany. Gross domestic product is expected to reach 3.3 percent in the current year. That is 0.3 points more than previously predicted. For the coming year, 4.4 percent is expected, 0.7 points more than initially forecast.
The OECD began a two-day ministerial meeting on Monday, which is taking place as a video conference. On Tuesday, Australia's ex-finance minister Mathias Cormann (50) is to officially take over the top post of OECD secretary-general. A native of German-speaking eastern Belgium, Cormann will succeed Angel Gurría of Mexico, who has held the position since 2006.
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