The OECD raised its world economic growth forecast for 2024 and emphasized the need for higher property and environmental taxes to address escalating debt across many countries, as stated in its “Turning the Corner” economic outlook report.
The Organization for Economic Co-operation and Development noted global GDP expansion by 3.2%, citing moderating inflation and stable growth in countries like the United States, Brazil, and Russia, among others.
Debt shocks
Despite the positive GDP outlook, the OECD warned about rising global debt levels, urging governments to implement decisive fiscal actions to ensure sustainability and generate resources for future spending needs.
