The rich countries now facing a much poorer 2022
The shocking disparity between December's projections and the latest outlook
What a difference six months makes. Back in December, the Organisation for Economic Co-operation and Development (OECD) predicted the world economy would see a strong recovery from COVID-19 this year. Since then, the war in Ukraine and China's strict lockdowns have stalled the comeback, exacerbating supply chain issues and spiking already rampant inflation. As a result, the OECD recently slashed its expected global GDP growth figure for 2022 by 1.44% to a sluggish 3% and downgraded its projections for a slew of countries.
Read on to discover how the latest forecasts for 30 major economies differ from December's and which nations are faring the worst. All dollar figures in US dollars.