June 11, 2008
Bangkok - The Organization for Economic Cooperation and Development (OECD) warned that the world’s sluggish economy could be longer than expected.
The OECD’s economic forecast seemed to be worse.
Due to some worrisome factors like the world’s fluctuating monetary market, the world’s economy should be delayed throughout this year.
Rising consumer product prices did put pressure on the central banks in each country.
It would be harder for them to reduce the interest rates to stimulate the economic growth as the inflation caused by oil crisis and expensive product prices would increase more.
OECD is the developed countries’ organization for economic cooperation. Most of its members are in the Europe.
OECD members would probably report the 1.8% GDP this year and 1.7% GDP next year.
It was said the world’s economy would significantly be driven by emerging economies such as Brazil, India and China in the next two years.
