BAKU, Azerbaijan, September 23. Global economic growth remains “resilient” in many countries despite the severe economic effects of the US-Israel war on Iran, the Organisation for Economic Co-operation and Development (OECD) said.
The OECD now expects the global economy to grow by 2.9 percent in 2026, 0.1 percentage point higher than its previous forecast issued in June.
The Paris-based organisation, which comprises 38 industrialised countries, said broader financial conditions remained supportive despite a sharp rise in energy prices following the US and Israeli strikes against Iran in February. Rising equity markets and continued access to credit have helped support economic activity.
“Sizeable oil inventories, additional supply from outside the Gulf economies, and discretionary government support measures all helped to cushion the impact on the global economy,” the OECD said in its quarterly update.
However, the forecast still represents a significant slowdown from the 3.4 percent global growth recorded last year. The OECD also lowered some of its projections, reflecting the continuing impact of the conflict and higher energy costs on the world economy.
