Protectionism puts growth at risk

The world economy is expected to slightly pick up in 2017, the Organization for Economic Cooperation and Development said on Tuesday, warning that increasing protectionism and divergent financial policies are likely to cloud the growth prospects. In its latest economic outlook, the Paris-based OECD forecast global economic growth to stand at 3.3 percent this year compared to 3 percent in 2016. For 2018, the rate is set to be at 3.6 percent. Unchanged from last estimates, the expected global modest recovery would be the result of continuing and expected combined fiscal and structural initiatives in the major economies, notably China, Canada that would help to boost global demand, according to the OECD.