The Organization for Economic Corporation and Development (OECD) raised its economic projection for global growth to 4.6% during this year and 4.5% next year from the prior projections of 3.4% and 3.7% respectively.

Global growth was raised from China leading the way to recovery, yet there are high risks from the sovereign debt that is in Europe with expectations showing that it might spread throughout the region and curb economic growth.

The OECD expects the euro zone to grow between 1.2% and 1.8% this year from the previous projections that were in November at 0.9% and 1.7% respectively.