OECD Economic Outlook, Volume 2023 Issue 1
A long unwinding road
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Global economic developments have begun to improve, helped by lower energy prices, improving business and consumer sentiment, and the reopening of China. However, the OECD Economic Outlook highlights that the upturn is fragile and the recovery is set to remain weak by past standards, with the effects of tighter monetary policy increasingly being felt. The Outlook underlines a range of risks, including the possibility that inflation could prove more persistent than projected and that the impact of higher interest rates on financial markets and economic activity could be stronger than expected. Well-calibrated policy measures are required to unwind the impact of the recent sequence of negative shocks to the global economy, restore economic stability, and strengthen prospects for strong, inclusive and sustainable improvements in living standards.
This issue includes an assessment of the global economic situation, a chapter on promoting gender equality to strengthen economic growth and resilience and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD members as well as for selected partner economies.
Also available in: French
Brazil
Economic activity is slowing due to weaker private consumption and exports. Real GDP is projected to grow by 1.7% in 2023 and 1.2% in 2024. Lower employment growth, still high inflation and tighter credit conditions will limit household spending capacity despite higher social transfers. Private investment will continue to rise but at a slower pace. Exports will be affected by lower commodity prices and subdued global demand. Inflation has declined markedly over 2022 but will remain above the target band during 2023.
Also available in: French, Spanish, Portuguese
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