The Organization for Economic Cooperation and Development (OECD) has warned that risks to the global outlook have increased.

The OECD in a new report said prospects have steadily deteriorated.

It now expects economic activity around the world to expand by 2.9 percent next year, a decline of 0.1 percentage points from a previous forecast issued in September.

Growth was likely to remain slow, it said, with expansion in 2020-2021 seen at around 3 percent, down from a 3.5 percent rate projected only a year ago.

The report said a lack of direction on climate policy is holding back business investment.

Nigel Bell, Readers Bureau, Fellow

Edited by Jesus Chan

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