We are pleased to announce the launch of our redesigned website.

This update reflects our ongoing commitment to improving user experience, accessibility, and clarity of information. The new design introduces a more intuitive structure, enhanced navigation, and a refined visual presentation, allowing visitors to access key resources and updates more efficiently.

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Dear users,

We would like to inform you that starting from March 16, 2026, our website will undergo scheduled technical maintenance and system optimization. The planned work is expected to continue for approximately 10 days.
The purpose of this update is to improve platform performance, enhance security, and introduce several infrastructure upgrades aimed at providing a more efficient and seamless user experience.

During this period, users may experience temporary disruptions in website availability, including slower response times or limited access to certain sections of the platform.
We appreciate your understanding and patience as we work to improve our digital services. If you have any urgent inquiries, we recommend contacting our support team directly.

Thank you for your continued trust and cooperation.

The first half of 2026 was defined by slower global growth, renewed inflation pressure, energy-market volatility and a cautious stance from major central banks. While the global economy continued to expand, the outlook became more uncertain amid elevated geopolitical and energy-market uncertainty, weaker trade prospects and tighter financial conditions.

Forecasts varied across institutions, but they pointed in the same direction: growth was expected to moderate. The IMF projected global growth at 3.1% in 2026 and 3.2% in 2027, under the assumption that major geopolitical and energy-market disruptions remain limited. The World Bank offered a more cautious view, forecasting global growth at 2.5% in 2026, citing higher energy prices, renewed inflation pressure and tighter financial conditions as key risks.

Inflation remained one of the central themes of the period. The OECD projected global growth to slow from 3.4% in 2025 to 2.8% in 2026, before recovering to 3.1% in 2027. It also expected annual consumer price inflation in G20 economies to rise to 4.0% in 2026, compared with 3.4% in 2025, before easing in 2027 as energy and food price pressures gradually fade.

Major central banks therefore moved carefully. In June, the U.S. Federal Reserve kept the federal funds target range unchanged at 3.50%–3.75%. The European Central Bank raised its three key interest rates by 25 basis points, taking the deposit facility, main refinancing operations and marginal lending facility rates to 2.25%, 2.40% and 2.65%, respectively. The Bank of England maintained Bank Rate at 3.75% in a 7–2 vote, with two members voting for an increase to 4%.

Global trade also lost momentum. The WTO projected merchandise trade volume growth to slow from 4.6% in 2025 to 1.9% in 2026, before recovering moderately to 2.6% in 2027. This reflected weaker demand, disruption to global supply chains and the normalization of trade after a stronger-than-expected 2025, which had been supported in part by demand for AI-related goods.

Financial markets remained broadly positive over the first half of 2026, with technology and AI-related investment continuing to support investor sentiment. However, volatility increased in June as markets reacted to shifting interest-rate expectations, energy-market uncertainty and geopolitical risks. By the end of the period, investors were entering the second half of the year with a more cautious view of inflation, energy prices and monetary policy.

Overall, the first half of 2026 showed a global economy that remained resilient, but with less room for policy error as inflation, energy prices and financial conditions remained under pressure. The key questions for the second half of the year will be whether energy prices stabilize, inflation pressures ease, and central banks can balance price stability with the need to support growth.

Sources: IMF World Economic Outlook, World Bank Global Economic Prospects, OECD Economic Outlook, Federal Reserve, European Central Bank, Bank of England, WTO Global Trade Outlook.