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Tuesday, 27 November 2012 - 18:40
Global economy set for sharp slowdown in 2013
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The Organisation for Economic Cooperation and Development warned that the Global growth is set for a sharp slowdown next year and the eurozone debt crisis.

The OECD said in its latest Economic Outlook, drafted before the eurozone and IMF unblocked almost 44 billion euros in emergency loans for Greece, that "a hesitant and uneven recovery is projected over the next two years."

The organisation slashed its outlook for global growth in 2013 to 1.4 percent from a previously expected level of 2.2 percent.


The Organisation for Economic Cooperation and Development downgraded its growth estimates for this year and next for the United States and Japan, and its data showed that the eurozone recession could be deeper than last forecast in May.

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