*“Growth is flat in the advanced economies and has slowed in many of the emerging economies that have been the global locomotive since the crisis,”* OECD Secretary-General Angel Gurría said while launching the OECD’s Global Economic Outlook. *“Slower productivity growth and rising inequality pose further challenges. Comprehensive policy action is urgently needed to ensure that we get off this disappointing growth path and propel our economies to levels that will safeguard living standards for all,”* Mr Gurría said.
OECD Chief Economist Catherine L. Mann adds, *”If we don’t take action to boost productivity and potential growth, both younger and older generations will be worse off. The longer the global economy remains in this low-growth trap, the harder it will be for governments to meet fundamental promises. The consequences of policy inaction will be low career prospects for today’s youth, who have suffered so much already from the crisis and lower retirement income for future pensioners.”*
The OECD highlights a series of policy requirements, including more comprehensive use of fiscal policy and revived structural reforms to break out of the low-growth trap.
[Global Economic Outlook](http://www.keepeek.com/Digital-Asset-Management/oecd/economics/oecd-economic-outlook-volume-2016-issue-1_eco_outlook-v2016-1-en#page1)
[Release
](http://www.oecd.org/economy/global-economy-stuck-in-low-growth-trap-policymakers-need-to-act-to-keep-promises.htm)
[Launch of the OECD Economic Outlook](http://www.oecd.org/about/secretary-general/launch-of-oecd-economic-outlook-june-2016.htm)
[Catherine Mann Presentation](http://video.oecd.org/2776/en/Economic-Outlook-Press-Briefing-with-Catherine-L-Mann-OECD-Chief-Economist.html)