[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-111695-en":3,"doc-seo-111695-105":29,"detail-sidebar-cat-0-en-105":91},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":20,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":13,"seo_description":14,"update_tm":27,"read_time":28},111695,1374391975076,"Riley","https://ap-avatar.wpscdn.com/avatar/14000253ca4ec9f6853?x-image-process=image/resize,m_fixed,w_180,h_180&k=1783305029341752051",8,"Research & Report","Mathias Cormann - Statement at the 112th Meeting of the Development Committee - October 16, 2025","Statement by Mathias Cormann, OECD Secretary-General, delivered at the 112th Development Committee meeting in Washington, DC on October 16, 2025. The statement assesses global economic resilience amid uncertainty, highlights signs of trade and activity slowing, and outlines projections for weaker growth ahead. It emphasizes vulnerabilities from debt distress, rising refinancing needs in low-income countries, and funding gaps affecting development. It then details priorities for domestic resource mobilisation and efforts to strengthen international tax standards, capacity building, and mobilise private finance for sustainable development and climate action.","Public Disclosure Authorized Public Disclosure Authorized  \nDEVELOPMENT COMMITTEE  \n(Joint Ministerial Committee  \nof the  \nBoards of Governors ofthe Bank and the Fund  \non the  \nTransfer of Real Resources to Developing Countries)  \nONE HUNDRED AND TWELFTH MEETING WASHINGTON, DC – OCTOBER 16, 2025  \nDC/S/2025-0037 October 16, 2025  \nStatement by  \nMathias Cormann OECD Secretary-General  \nOECD  \nStatement by  \nMathias Cormann  \nOECD Secretary-General  \n112th Meeting of the Development Committee  \nOctober 16, 2025  \nWashington, DC  \n1. Despite high policy uncertainty, the global economy continued to be resilient in the first half of this year, with annualised GDP growth of 3.2%. Growth was strong in several emerging market economies, including India and Indonesia, trade activity accelerated in advance and in anticipation of expected tariff increases, and AI-related investment boosted activity in the United States.  \n2. However, several recent trade and activity indicators point to slowing momentum. The average tariff rate on merchandise imports to the United States, at 19.5% as of the end of August, is higher than at any time between the 1930s and 2024 based on our analysis, while inventories that firms built up in response to tariff announcements are declining. Industrial production has fallen in recent months in Brazil, Germany and Korea, and retail sales growth has slowed in China, the euro area and the United States.  \n3. Global growth is projected to decline in the near and longer term. The OECD’s September 2025 Interim Economic Outlook projects global GDP growth to slow from 3.3% in 2024 to 3.2% in 2025 and 2.9% in 2026. Looking further ahead, global potential GDP growth is expected to slow markedly according to new projections of the OECD Long-Term Model, from 2.9% in 2024 to 2.1% by the early 2040s, mostly due to population ageing.  \n4. Vulnerabilities from debt distress in emerging market and developing economies are significant.  \nThis year’s OECD Global Debt report shows that, between 2025 and 2027, 50% of all outstanding public debt in low-income countries is maturing, and will likely need to be refinanced at higher rates. This is a much higher share than the 32% for high-and upper middle-income countries, increasing refinancing risks in low-income countries.  \n5. This anticipated slowdown in global growth will likely continue to constrain public resources. Emerging markets and developing economies in particular, face acute challenges in mobilising finance. OECD analysis shows that global financing needs increased by 36% between 2015 and 2022 from USD 6.7 trillion to USD 9.2 trillion per year. In the same period, available resources grew by 22% from USD 4.3 trillion to USD 5.2 trillion, leaving an annual development financing gap of USD  \n4 trillion. If left unaddressed, this gap could reach USD 6.4 trillion by 2030. The OECD deploys its broad range of technical expertise, unique data, and a growing set of practical policy tools to support policy-makers in mobilising investment to close this gap.  \nEnhancing domestic resource mobilisation  \n6. Strengthening domestic resource mobilisation is a key priority to enable developing countries to  \nmeet investment needs and achieve their development goals. Emerging markets and developing economies have, on average, lower tax-to-GDP ratios than OECD countries, limiting their ability to finance key services and make investments in long-term growth, development and well-being. For example, African and Latin American countries have an average tax-to-GDP ratio of 16% and 21.3% respectively, compared to 34% among OECD countries.  \n7. Through the Inclusive Framework on Base Erosion and Profit Shifting and its Two-Pillar Solution, the OECD continues to strengthen international standards to curb tax avoidance and help emerging markets and developing economies optimise government revenues. The introduction of the Global Minimum Tax has raised the floor for taxing cross-border profits,","cbCaiiUv2BepqQMJ","https://ap.wps.com/l/cbCaiiUv2BepqQMJ","pdf",250140,1,6,"English","en",105,"# Global economic outlook and trade risks\n## Growth projections and indicators of slowing momentum\n# Debt distress and development financing gap\n## Refinancing needs in low-income countries\n# Enhancing domestic resource mobilisation\n## Tax standards, base erosion and profit shifting\n# Mobilising private finance and climate action\n## Blended finance guidance and de-risking investment","[{\"question\":\"What are the main messages about the global economy in the statement?\",\"answer\":\"Despite high policy uncertainty, the global economy remained resilient in the first half of the year. At the same time, trade and activity indicators point to slowing momentum, and growth is projected to decline in the near and longer term.\"},{\"question\":\"How does the statement describe risks related to debt in developing countries?\",\"answer\":\"It highlights significant vulnerabilities from debt distress, noting that a large share of outstanding public debt in low-income countries is maturing between 2025 and 2027 and will likely need refinancing at higher rates.\"},{\"question\":\"Which policy areas does the statement focus on to support development financing?\",\"answer\":\"It focuses on enhancing domestic resource mobilisation, strengthening international tax standards and enforcement capacity, and mobilising private finance through approaches such as updated blended finance guidance to unlock additional investment.\"}]",1784491301,15,{"code":4,"msg":30,"data":31},"ok",{"site_id":24,"language":23,"slug":32,"title":13,"keywords":33,"description":14,"schema_data":34,"social_meta":86,"head_meta":88,"extra_data":90,"updated_unix":27},"mathias-cormann-statement-at-the-112th-meeting-of-the-development-committee-october-16-2025","",{"@graph":35,"@context":85},[36,53,68],{"@type":37,"itemListElement":38},"BreadcrumbList",[39,43,47,50],{"item":40,"name":41,"@type":42,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":44,"name":45,"@type":42,"position":46},"https://docshare.wps.com/document/","Document",2,{"item":48,"name":12,"@type":42,"position":49},"https://docshare.wps.com/document/research-report/",3,{"item":51,"name":13,"@type":42,"position":52},"https://docshare.wps.com/document/mathias-cormann-statement-at-the-112th-meeting-of-the-development-committee-october-16-2025/111695/",4,{"url":51,"name":13,"@type":54,"author":55,"headline":13,"publisher":57,"fileFormat":60,"inLanguage":23,"description":14,"dateModified":61,"datePublished":62,"encodingFormat":60,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":56},"Person",{"url":40,"name":58,"@type":59},"DocShare","Organization","application/pdf","2026-07-20","2026-07-19",true,{"@type":65,"interactionType":66,"userInteractionCount":20},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81],{"name":72,"@type":73,"acceptedAnswer":74},"What are the main messages about the global economy in the statement?","Question",{"text":75,"@type":76},"Despite high policy uncertainty, the global economy remained resilient in the first half of the year. At the same time, trade and activity indicators point to slowing momentum, and growth is projected to decline in the near and longer term.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"How does the statement describe risks related to debt in developing countries?",{"text":80,"@type":76},"It highlights significant vulnerabilities from debt distress, noting that a large share of outstanding public debt in low-income countries is maturing between 2025 and 2027 and will likely need refinancing at higher rates.",{"name":82,"@type":73,"acceptedAnswer":83},"Which policy areas does the statement focus on to support development financing?",{"text":84,"@type":76},"It focuses on enhancing domestic resource mobilisation, strengthening international tax standards and enforcement capacity, and mobilising private finance through approaches such as updated blended finance guidance to unlock additional investment.","https://schema.org",{"og:url":51,"og:type":87,"og:title":13,"og:site_name":58,"og:description":14},"article",{"robots":89,"canonical":51},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":92},[93,97,101,105,110,114,119,122,127,130,134],{"id":20,"doc_module":4,"doc_module_name":45,"category_name":94,"show_sort_weight":95,"slug":96},"Story & Novel",90,"story-novel",{"id":46,"doc_module":4,"doc_module_name":45,"category_name":98,"show_sort_weight":99,"slug":100},"Literature",80,"literature",{"id":52,"doc_module":4,"doc_module_name":45,"category_name":102,"show_sort_weight":103,"slug":104},"Exam",70,"exam",{"id":106,"doc_module":4,"doc_module_name":45,"category_name":107,"show_sort_weight":108,"slug":109},5,"Comic",60,"comic",{"id":21,"doc_module":4,"doc_module_name":45,"category_name":111,"show_sort_weight":112,"slug":113},"Technology",50,"technology",{"id":115,"doc_module":4,"doc_module_name":45,"category_name":116,"show_sort_weight":117,"slug":118},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":45,"category_name":12,"show_sort_weight":120,"slug":121},30,"research-report",{"id":123,"doc_module":4,"doc_module_name":45,"category_name":124,"show_sort_weight":125,"slug":126},9,"Religion & Spirituality",20,"religion-spirituality",{"id":125,"doc_module":4,"doc_module_name":45,"category_name":128,"show_sort_weight":125,"slug":129},"World Cup","world-cup",{"id":131,"doc_module":4,"doc_module_name":45,"category_name":132,"show_sort_weight":131,"slug":133},10,"Lifestyle","lifestyle",{"id":135,"doc_module":4,"doc_module_name":45,"category_name":136,"show_sort_weight":106,"slug":137},19,"General","general"]