The forecast was raised from 3.3% predicted in November.
In its latest economic outlook published on Wednesday, the organization of 35 countries said that global economic growth in 2017 and 2018 was expected to pick up pace but was still not sufficient to "sustain strong gains in standards".
The global economy will grow 3.5 percent in 2017 before accelerating slightly to 3.6 percent in 2018. The OECD expects USA growth this year of 2.1%, down from the 2.4% forecast it gave in March.
"Economic activity slowed in 2016 against the backdrop of a failed putsch in July and increased geopolitical tensions in the region", the organization said in its economic outlook for June 2017.
The OECD estimates United Kingdom economic growth of 1.6% this year, followed by growth of just 1% in 2018 - unchanged from its previous estimate.
The report came after the export-reliant Japanese economy registered five straight quarters of growth in the January-March period, driven by robust overseas demand and recovering consumption.
Hawaii enacts law to align goals with Paris climate accord
Jerry Brown (D) is going to great lengths to oppose President Trump's plans to pull the USA out of the Paris climate accord. Trump's predecessor signaled a dour noted about the president's move to remove the USA from the non-binding agreement.
Comey expected to refute Trump
Some of the commentary in it - including the title - echoes public statements by Trump and other administration officials. Trump continues to praise Comey's decision to reveal the FBI's review of new emails.
Ivanka Trump, Jared Kushner taking 'heads down' approach
But Trump immediately railed against administration leaks in a flurry of tweets Sunday, calling them "fabricated lies". Congressional Democrats have demanded to hear directly from Kushner about the allegations against him, CBS reported .
"Weaker growth could push the unemployment rate above 5%".
"The stronger policy-driven demand growth in China and many other Asian economies that is helping to underpin the modest global upturn projected in 2017 and 2018 can not be sustained indefinitely", the OECD said. It also lowered its projection for 2018 to 2.4% from 2.8%, reflecting a later start for investment programs and tax changes it had expected from the new administration.
According to the Organisation for Economic Cooperation and Development (OECD), the uncertainty and the assumed outcome from Britain leaving the European Union, is projected "to undermine spending, in particular investment".
"The Government should ensure that its medium-term goal of balancing the budget is met, thus leaving room to use fiscal policy to support growth if needed".
The OECD also highlighted growing risks in housing markets, where prices in some countries have risen to levels that have in the past preceded busts. The report, however, added that China's continued decisions to cut Korean imports and ban Chinese tour groups may lower GDP growth my 0.2 percentage point.
UN warns Trump against quitting Paris Climate Deal
But the targets were voluntary, meaning the USA and the almost 200 other nations in the agreement could alter their commitments. Canada, the European Union and China have said they will honour their commitments to the pact if the United States withdraws.
Man arrested in theft of Portland train victim's ring
Taliesin Myrddin Namkai Meche, 23, also died in the attack, while Micah Fletcher, 21, suffered non-life-threatening injuries. George Tschaggeny was wearing Ricky Best's ring when officers arrested him Friday morning beneath an overpass, Sgt.
Gunshots and explosions at Philippine mall
The Philippines has been grappling with incidents of terrorism, especially on the southern island of Mindanao . Several people were seen injured, but police and Resorts World management have yet to give details.
What is Microsoft Rewards?
This doubles if you are using Edge, and Microsoft says you can "earn points when you actively browse the web with Microsoft Edge". You can enter competitions for 200 points, and be in with a chance of winning an Xbox One S or a Surface Pro.
Kelly defends plan for Russia back channel as a 'good thing'
There is no indication Kushner is now a target of the FBI's probe, and there are no allegations he committed any wrongdoing. At the time , a White House official dismissed it as a brief courtesy meeting. "We're not going to comment on Jared".
Apple's Siri Speaker is reportedly in the works
While the speakers wouldn't go on sale until later this year, they could be announced in June at Apple's developers' conference. But, Mark Gurman reported that, "Apple's speaker won't include such a screen, according to people who have seen the product".
MLB expected to reduce Harper's suspension by 1 game
The bad blood between the two stemmed from a pair of home runs Harper hit off Strickland in the 2014 playoffs. "I don't know. After being hit in the hip by a pitch from Giants' reliever Will Strickland, Harper charged the mound and a brawl ensued.