PARIS—An international economic agency said Monday that the kind of infrastructure spending promised by U.S. President-elect Donald Trump could boost global growth, but warned that protectionist tendencies hurt prosperity. The Organization for Economic Co-operation and Development (OECD) overall hit an upbeat note in its latest world economic outlook Monday, thanks in part to stimulus efforts planned in the U.S. and China. The OECD raised its forecasts for global growth to 3.3 per cent for next year, up from 3.2 per cent in its last outlook. After years of low growth, “There is reason to hope that the global economy may be at a point of inflection,” as low interest rates give governments more freedom to lower taxes and spend on infrastructure and education, OECD chief Angel Gurria said. The Paris-based intergovernmental agency encouraged governments such as Germany to take more advantage of this window of low rates.

Source: thestar November 28, 2016 17:43 UTC