(VOVworld) - The Organization for Economic Cooperation and Development has slashed its global economic outlook for 2016, from 3.6 percent to 3.3 percent, saying some areas may plunge into deflation.

OECD’s economic outlook from 2011 to 2017 (Photo: OECD)

According to a OECD’s recently released economic outlook report, 2016 will see great differences in global economic growth in two trends: economic recovery in developed countries with average growth rate of 2 percent compared to 1 percent in the period of 2010 to 2014 and sharp fall in newly emerging countries with the growth rate of 2.4 percent compared to 5 percent of the same period. Experts projected that in Europe, Russia may face serious deflation with the growth rate of minus 4.7 percent next year and FED’s increase in basic interest rate and tightened monetary policy are likely to result in the flow of capital withdrawal. Russia’s low economic growth may lead to a new financial crisis.