"A premature and abrupt withdrawal of policy support should be avoided whilst the near-term outlook is still uncertain.”
The group is now predicting a 4.5% contraction for this year, citing the swift recovery in output since coronavirus containment measures were eased.
A number of trends are converging, and U.S. tax reform will make navigating them more complex.
The group sees a temporary boost to GDP from the proposed tax cuts but its projection is still below that of the Trump administration.
The OECD endorses a Trumpian fiscal stimulus and advises other countries to follow suit.
The group predicts the current "low-growth trap" will persist, in part due to lack of progress in opening markets.
The organization says governments must take urgent action to put economies on a high-growth path or risk falling back into another recession.
Offshore financial centers have taken a battering recently, but they have shown remarkable resilience.
