OECD’s Pereira: Seeing some recovery in many parts of the world

Start seeing some recovery in many parts of the world economy, in particular in Europe where this year is still sluggish but it will pick up next year. We see strong growth in the United States 2.6% this year and next year also with strong performance where and with low unemployment and inflation a bit sticky but still coming down. We see also China with stronger performance than the recent past and so close to five percent, 4.9% this year and 4.5% next year. And we see also both in Latin America at the end of this year and especially next year and in Asia, the world is, is you know the world economy is doing better also in these regions. We also see a pickup in trade. So trade is starting to pick up a bit more in spite of all the the conflicts that we’ve seen around and the disruptions to certain parts of World Trade. But World Trade is picking up and our activity indicators and also our PM is are starting to pick up so. We can see that the recovery seems to be unfolding in several parts of the world economy, so that’s good news. The question is how robust this recovery is going to be. We think that is getting stronger, but of course, there’s still quite a few risks to have. And you’ve noticed in the report that the tighter monetary conditions are actually putting pressure on credit and housing markets. How much of a problem could this be? Any significant risks here? Well we with monetary policy is doing what it should be doing which is basically we know that we had because of the energy crisis ensued after the riches invasion of Ukraine. We we had a significant energy crisis especially in Europe which was the largest energy crisis that we’ve seen since the 1970s And and so this led to a significant rise in inflation and in other parts of the world as well we said it saw a big rise in inflation. What this led to was to a significant decrease in real income, so families. Saw their incomes, real incomes coming down and what we see now is starting to be some recovery in certain countries, so real incomes are starting to recover. This will help consumption also. We think that’s inflation is starting to come down. Well this is coming down in several measures and so monetary policy is doing what it should be done.