OTHER NEWS - June 7, 1994

OECD Raises Growth Forecasts: The world’s rich nations should enjoy more economic growth this year and next than previously forecast but will remain dogged by high unemployment in the absence of ambitious new policies to ease joblessness, senior Organization for Economic Cooperation and Development officials said. The officials, in Paris for a two-day OECD ministerial meeting opening today, said the organization had revised its growth forecasts upward, particularly for the United States and Japan, from those it made six months ago. The OECD said it now expects growth for OECD members of 2.6% in 1994 and 2.9% in 1995, compared to 2.1% and 2.7% in its previous forecast. The revision reflects stronger-than-expected U.S. economic expansion.