Daily Management Review

UN expects 50-Year record growth of world economy


The world economy will pick up from the COVID-19 pandemic and will rise by 5.3 percent in this year, the highest rate in nearly 50 years, states a report from UNCTAD.

allen watkin
allen watkin
However, in the nexy year, the growth is expected to slow to 3.6%.

According to the organization, in 2021 the world economy is normalizing due to the helpful effect of strict state measures and the promising rate of vaccination against the virus in countries with developed economies.

As the report stresses, the harm from the crisis caused by the coronavirus pandemic was larger than that caused by the crisis of 2008-2009. African and South Asian countries were hit the hardest.

With a favorable external backdrop, global production will reach pre-pandemic 2016-2019 levels only by 2030, experts said.

source: un.org