Slight OECD GDP Reduction in 2009
Azerbaijan, Baku, 1 December / Trend corr. A.Badalova/ Gross domestic product (GDP) in the Organization for Economic Cooperation and Development (OECD) member countries will be reduced by 0.4% against its 1.4 % rise in 2008, says economic review placed on the OECD official website.
GDP growth in OECD will make up 1.5% in 2010. US GDP will drop by 0.9 % next year but increase by 1.6% in 2010.
According to the report, there will be recession in the Euro zone in 2009. GDP will drop by 0.6 % next year. GDP will rise in Euro zone by 1.2% in 2010. Japan's GDP will decrease by 0.1% and then increase by 0.6% in 2010.
Many OECD countries are in the process of prolonged recession, hardest since early 1980s. Number of unemployed people in these countries can increase by 8mln within two next years, the report says.
Inflation in OECD countries is forecasted to decrease from 3.3% of 2008 to 1.7% in 2009 and to 1.5% in 2010. Inflation in US will decrease by 1.2% in 2009 and will increase by 1.3% in 2010. Inflation in Euro zone will make up 1.4% in 2009 and 1.3% in 2010. In Japan, OECD forecasts inflation of 0.3% in 2009 and deflation of 0.1% in 2010.
OECD, uniting 30 most developed countries, is one of leading intergovernmental economic world organizations.
Presently the organization includes Australia, Austria, Belgium, UK, Hungary, Germany, Greece, Denmark, Ireland, Island, Spain, Italy, Canada, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovakia, USA, Turkey, Finland, France, Czechia, Switzerland, Sweden, South Korea and Japan.
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