News > World economy to grow 3.1% this year, down from 5.9% : OECD

World economy to grow 3.1% this year, down from 5.9% : OECD

The world economy will grow just 3.1 percent this year, down sharply from 5.9 percent in 2021. Next year, the OECD predicts, the international economy would expand by only 2.2 percent. Russia's invasion of Ukraine has led to an energy crisis on the scale of the 1970s. The Organisation for Economic Co-operation and Development (OECD) predicts that the eurozone will grow just 0.5 percent next year. Asia will account for three-quarters of world growth next year while the US and Europe falter.