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Title : OECD Says The World Is Facing Fiscal Problems Much Worse Than Those From Covid
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OECD Says The World Is Facing Fiscal Problems Much Worse Than Those From Covid

Bloomberg: World Faces Fiscal Problems Much Worse Than Those From Covid, OECD Warns 

(Bloomberg) -- The Covid-19 pandemic may have bloated public debt to levels already pushing some governments to consider consolidation, but that’s nothing compared to the fiscal difficulties brewing in the coming decades, the OECD said. 

According to its long-term scenario, a deceleration in large emerging economies, demographic change and slowing productivity gains will drag trend economic growth among the OECD’s 38 members and the Group-of-20 nations to 1.5% in 2060 from around 3% currently. At the same time, states will face rising costs, particular from pensions and health care.  

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