'Significant' risks to global economy if conflict between Israel and Hamas escalates: OECD

The Organisation for Economic Co-operation and Development (OECD) lowered its global growth forecast for this year to 2.9 percent, while maintaining unchanged predictions for the next year.  

It warned that the worsening conflict between Israel and Hamas in the Gaza Strip could undermine the economy. 

According to the estimates of the Paris-based institution, "If the conflict escalates and spreads to the entire region, the risks of growth slowdown and increased inflation will be much greater than they are now." 

AFP