OECD lowers global GDP growth projection in 2025, 2026

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OECD lowers global GDP growth projection in 2025, 2026

2025-06-03 16:07 Last Updated At：23:47

Global GDP growth is projected to slow from 3.3 percent in 2024 to 2.9 percent in 2025 and 2026, the Organization for Economic Cooperation and Development (OECD) said on Tuesday.

In its latest Economic Outlook, the OECD revised down its global growth forecast for the two years by 0.2 and 0.1 percentage points, respectively, from its March forecast, citing a technical assumption that existing tariff rates as of mid-May will remain in place, despite ongoing legal disputes.

The organization warned that if current trends persist -- such as rising trade barriers, tighter financial conditions, weakening business and consumer confidence and increased policy uncertainty -- they could significantly undermine global growth prospects.

The OECD forecast that, due to factors such as uncertainty in trade and economic policies, the U.S. economy will grow by 1.6 percent this year, 0.6 percentage points lower than its March projection, making it one of the major economies with a notably significant slowdown in growth.

Unlike the trend of easing inflation expectations among G20 countries, the overall inflation forecast for the U.S. this year was raised by 0.4 percentage points from the organization’s March forecast to 3.2 percent.

Israeli strikes on Lebanon kill 40, wound 246: health ministry

Israeli airstrikes on Beirut's southern suburbs and southern Lebanon killed 40 people and wounded 246 on Monday, said Lebanese Public Health Minister Rakan Nasreddine on Tuesday.

At a press conference in Beirut, Nassereddine briefed the media on the death toll from Monday's attacks and outlined hospitals' efforts to provide full medical coverage for all Lebanese and displaced people.

"As of today, we have 40 martyrs and 246 wounded, including seven children. That's in addition to the number of martyrs after the cessation of hostilities on November 27, 2024, bringing the total to more than 400 martyrs," Nassereddine said.

"As for the shelters, we are responsible for providing health services, including hospitalization and medication. With regard to hospitalization, we are announcing, with great responsibility, 100 percent coverage in government hospitals for all Lebanese people, displaced persons and hosts, and all people without insurance during the war. The coverage is approved by the Ministry of Public Health," he said.