International Organization for Economic Cooperation and Development (OECD) believes that the European Central Bank (ECB) should increase its financial support and start a program to purchase financial assets.
The OECD, which includes the world's most developed countries, revised its growth forecast for Spain in 2015, which until then was 1.6% and increased to 1.7%, which is a tenth more of what expected, while for next year 2016, the growth of the Spanish economy is expected in 1.9%.
In September last year, the experts of the OECD have already revised its growth forecast for Spain, at the time the increase was 1.2% this year and 1.6% for 2015, but warned that the situation economy remains “fragile” due to high public debt and high unemployment.
Revised OECD forecasts coincide with new published in October 2014 by the International Monetary Fund (IMF), which predicted the rise of Spanish GDP of 1.3% this year and of 1.7% in 2015.
These forecasts will, in turn,be included in the report on the growth prospects for countries belonging to the G20, which will publish all their results later this month, and has already warned that the global economy will grow by 3.3 % this year, by 3.7% in 2015 and by 3.9% in 2016.
Meanwhile, the euro zone will grow by three tenths more in 2015 compared to this year, that is, to 1.1%, and in 2016 in six tenths more, to 1.7%, but in general, according to the chief economist of the International Organization for Economic Cooperation and Development, Catherine Mann, the European economy is almost situated at a standstill.
High unemployment in the region and the level of euro inflation much higher as the planned indicators, represent a “significant risk” to the global economy, said a representative of the Organization for Economic Cooperation and Development (OECD). Moreover, given the weak economy of the euro area and the risk of deflation, the international organization the OECD believes that the European Central Bank (ECB) should expand its financial support beyond the measures already announced, and start a program of asset purchases.