India will continue to grow robustly, by 7.4% in 2016 and 7.3% in 2017,” OECD said in its Interim Outlook Report released Thursday.
Meanwhile, referring to a faltering Chinese economy, the global research body said with China shifting its economy from manufacturing-driven to services-driven, its economic growth is expected to contract further to 6.5% in 2016 and 6.2% in 2017.
Brazil’s economy growth, which is currently battling deep recession, high inflation, large budget-deficit, political crisis and recently-emerged Zeeka virus, has been expected to shrink to 4% this year.
The think-tank attributed the dipping global growth rate to a weak trade and investment, sluggish global demand, low inflation, and insufficient wage and economic growth. It underscored that the global economic growth in the year 2016 isn’t going to be much different than what it was in 2015.