Axel Drainville
According to the forecast, the US and China will account for more than a quarter of global growth in 2021, with the US contribution almost tripling from the 2015-2019 average. "Global growth in 2021 will be more robust than previously anticipated.
Rapid progress in vaccination has contributed to an improved outlook in many countries; however, this is mainly in advanced economies," the WB data shows. By 2022, global production is expected to remain around 2% below pre-pandemic forecasts.
A May report by the Organisation for Economic Co-operation and Development (OECD) shows that the global economy is recovering from the coronavirus pandemic, but this is happening unevenly. The OECD expects "global output to grow by almost 6% this year, an impressive surge after a 31.2% contraction in 2020". Although much of the world will return to pre-crisis GDP levels, this is not enough, the report said.
According to experts from the Centre for Macroeconomic Analysis and Short-Term Forecasting, the next global economic crisis will occur in 2025-2026.
source: worldbank.org
Rapid progress in vaccination has contributed to an improved outlook in many countries; however, this is mainly in advanced economies," the WB data shows. By 2022, global production is expected to remain around 2% below pre-pandemic forecasts.
A May report by the Organisation for Economic Co-operation and Development (OECD) shows that the global economy is recovering from the coronavirus pandemic, but this is happening unevenly. The OECD expects "global output to grow by almost 6% this year, an impressive surge after a 31.2% contraction in 2020". Although much of the world will return to pre-crisis GDP levels, this is not enough, the report said.
According to experts from the Centre for Macroeconomic Analysis and Short-Term Forecasting, the next global economic crisis will occur in 2025-2026.
source: worldbank.org
