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World Business Report: First broadcast 07/06/2023 14:32 GMT : OECD call for cuts to fiscal support

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OECD call for cuts to fiscal support

First broadcast 07/06/2023 14:32 GMT 

First broadcast 07/06/2023 14:32 GMT : OECD call for cuts to fiscal support

BBC World Service - World Business Report, OECD call for cuts to fiscal support

OECD forecasts global growth saying countries must look to improve their public finances.

As OECD figures show that global economic growth is expected to rise slightly, it says now is the right time is now for countries to get their public finances into better shape.

New figures from the OECD say that global economic growth is expected to rise slightly.

And that means, says the OECD, that as the coronavirus pandemic and energy crisis fade into the background, the time is ripe for countries to get their public finances into better shape. We look at how governments might react. 

Meanwhile China's total trade with Russia hit a new record high in May to levels not seen since the start of the war in Ukraine. Official data from Beijing showed trade between the two countries last month was worth $20.5 billion with Chinese imports from Russia worth $11.3 billion. We explore the factors influencing the spending behind the figures.

And as the Turkish lira tumbles to a low against the dollar we look at what this means for people in Turkey and Erdoğan’s new finance minister Mehmet Şimşek.

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First broadcast 07/06/2023 14:32 GMT : OECD call for cuts to fiscal support

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