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OECD lifts 2026 global growth forecast to 2.9% despite Iran war

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Europe Today

Expert: one-third of young Europeans are 'functionally illiterate'

Maciej Jakubowski, director of the Educational Research Institute, says the OECD PISA report shows "a decline in most European countries".

Europe News

Calls for action in Europe as PISA results show fall in child literacy

The OECD's latest PISA report, based on a standardised test taken by 15-year-olds, found that student performance across OECD countries reached a record low in maths and reading.

Economy

Household incomes plunge in Greece, Austria amid OECD-wide growth

New OECD data shows a widening gap between economic growth and household prosperity, with Greece and Austria bearing the sharpest falls in real income.

Business

Global steel crisis deepens as oversupply grows, OECD warns

The global steel industry is facing a growing crisis as subsidised production and excess capacity continue to distort markets, according to the OECD. It says state-backed steel production, particularly in China, is increasing pressure on producers in Europe and other OECD economies.

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Economy

Prolonged Iran war could push economies into recession, OECD warns

The war in the Middle East has dented economic growth prospects worldwide, with a more severe shock likely if no effective ceasefire is agreed before 2027, the OECD warned Wednesday.

Health news

Poor mental health is costing Europe €76bn a year, OECD warns

Poor mental health is one of the most significant public health and economic challenges in Europe, according to a new report by the OECD.

Europe in Motion

EU country now world's largest foreign aid donor as US slashes funds

Following years of aid growth driven by events like the war in Ukraine and COVID-19, 2025 saw the largest contraction on record.

Health news

Long COVID remains a burden on health systems and economies, OECD says

The chronic condition could cost OECD countries billions per year, with the total comparable to the annual health budgets of the Netherlands or Spain, a new report shows.

Economy

OECD cuts eurozone growth forecast as energy prices surge

The OECD said Thursday it was cutting its eurozone growth outlook and forecasting higher inflation for 2026 after the Middle East war caused energy prices to skyrocket.

12 minutes with

Romanian minister backs EU joint debt in push to reboot economy

Minister Alexandru Nazare also supports the more controversial E6 club of economic heavyweights, saying if it succeeds, it's a "good thing" for Europe.

Europe Today

Europeans 'would do well listening to Draghi,' OECD chief says

OECD chief says appetite for multilateral trade remains strong despite tariffs. Cormann says Europe should take note of recommendations laid out by former ECB president Mario Draghi to maintain 'success story' of the EU.

Business

Azerbaijan expands OECD cooperation to advance economic reforms

Azerbaijan is strengthening cooperation with the OECD to reinforce the country's role as a reliable European partner and expand its integration into global markets.

Health news

How is cardiovascular disease affecting Europe’s health and economies?

A new European report warns of the burden of cardiovascular diseases – the leading cause of death for the last two decades, now accounting for one‑third of all deaths every year.

Economy

Migration tide turns as rich countries see slowdown and shifting flows

OECD nations saw a sharp drop in work-related migration after several years of rapid growth as rich nations scrambled to fill labour shortages.

Economy

Europe’s 2026 inflation forecast: The highest and lowest rates

Euronews Business takes a closer look at the ECB and OECD inflation projections for the euro area and wider Europe in 2025 and 2026.

Economy

OECD outlook: Can the global economy survive trade pressures in 2025?

The OECD forecasts a continued slowdown in global economic growth this year, driven by persistent trade tensions — such as US tariffs — and stubbornly high inflation.