The Organisation for Economic Co-operation and Development (OECD) has lowered its economic growth forecasts for developed nations, citing concerns over rising energy prices and increasing interest rates. The organization’s latest report indicates a slowdown in economic activity across its member countries.

The OECD suggests that governments should prioritize structural reforms to enhance productivity and foster sustainable economic expansion. These reforms could include measures to improve labor market flexibility, reduce regulatory burdens, and promote innovation.

The report also highlights the importance of fiscal discipline in managing government debt and ensuring long-term economic stability. The OECD advises member countries to pursue prudent fiscal policies to mitigate the potential impact of future economic shocks.