Despite the shock of war, there is hope for the global economy

The Organization for Economic Cooperation and Development (OECD) has raised its global economic growth forecast for this year, despite the impact of the Iran war and rising energy prices.In its new forecast, the organization said the global economy could grow by 2.9 percent in 2026. This is 0.1 percentage point higher than the June forecast.

The OECD says that energy prices have risen significantly since the US and Israel launched strikes on Iran in February. However, global financial conditions remain relatively supportive, with stock markets continuing to rally and credit opportunities continuing to be available.

The organization's quarterly report said that large oil reserves, additional energy supplies from outside the Gulf region, and government support programs in various countries have played a role in reducing the negative impact of the war on the global economy.

However, the global economic growth in 2025 was 3.4 percent. In comparison, the OECD said that growth in 2026 will be significantly lower.

Meanwhile, the agency has also lowered its global growth forecast for 2027 by 0.1 percentage points to 3 percent.