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The outlook for the global economy has improved slightly in recent months as a result of renewed business and consumer confidence, lower energy and food prices and the opening of the Chinese economy.

This was stated by the Secretary General of the Organization for Economic Co-operation and Development (OECD), Matthias Cormann, during a speech, part of the Eighth Delphi Economic Forum, which began yesterday, BTA reported.

Despite the positive signals, the economic outlook remains fragile, Korman warned.

He also expressed concern about global inflation rates, which "are not falling fast enough."

Structural inflation is holding its level because of large price increases in the services sector, Korman said, adding that more effective competition policies would be beneficial.

How big is the hole in the treasury?

"The most important positive change for the global economic outlook would be a comprehensive, lasting and just peace in Ukraine," said the head of the OECD.

As another risk, Korman pointed to the combination of declining asset values ​​and high levels of debt obligations, which could continue to expose weaknesses in the financial sector, leading to further turmoil.

Commenting on energy prices, he noted that this year there were favorable conditions for their reduction, such as a mild winter in Europe and weaker demand for liquefied natural gas from China.

The picture may be different next winter.

"Demand from China is expected to pick up as its economy recovers following the lifting of pandemic-related restrictions," he said, calling for more targeted support measures by governments to protect consumers from rising energy prices. .

global economy