OECD downgrades forecast on global economic growth 

The Organization for Economic Co-operation and Development (OECD) has cut its forecast for global Gross Domestic Product (GDP) growth by 1.5 percentage points to 3% from its December 2021 report.

The OECD also forecasts a 2.8% growth in the global economy in 2023.

In addition, the organization expects the Turkish economy to grow by 3.7%, the eurozone economy - by 2.6%, the US economy - by 2.5% and the Japanese economy - by 1.7% this year. The Turkish economy's growth forecast for 2023 was 3%.

According to the document, the highest inflation among OECD member states this year will be in Turkiye (72%), Argentina (60.1%) and Lithuania (15.6%), and the lowest inflation in consumer prices will be in Japan (1.9%) and Switzerland (2.5%) and Norway (4.6%).