The Organization for Economic Cooperation and Development (OECD) released its medium-term economic outlook report on the 26th, saying that the global economy slowed more than expected. It is estimated that the growth rate will be only 3% in 2022, and will further slow to 2.2% in 2023, lower than the 2.8% predicted in June this year. According to the report, the impact of COVID-19 is still alive. The Ukrainian crisis has significantly pushed up energy and food prices and intensified inflationary pressure. At present, indicators of many economies indicate long-term sluggish growth. In the second quarter of this year, the global GDP stagnated, and the inflation rate in many economies in the first half of the year reached the highest level since the 1980s. The report predicts that the US economy will grow by 1.5% this year and will slow to 0.5% next year; The euro area economy will grow by 3.1% this year and will slow to 0.3% next year; The G20 will grow by 2.8% and 2.2% respectively this year and next. The report points out that many economies are experiencing a wide range of inflation, and it is expected that the overall inflation level of most major economies will peak in this quarter. Looking forward to next year, although the monetary tightening policy and the easing of supply bottlenecks are expected to partially alleviate the pressure of global inflation, the rise in energy prices and labor costs may slow down the pace of declining inflation. The Paris based OECD was established in 1961. At present, it has 38 member countries, including the United States, Britain, Germany, France, Japan, South Korea, etc. (Liu Xinshe)