Statista: World economy to return to pre-pandemic output in 2021
OECD expects global GDP to grow by 5.6 percent this year, and continue with 4.0 percent growth in 2022.
The Organisation for Economic Co-operation and Development (OECD) released its latest interim Economic Outlook report on Tuesday, providing us with an updated look at the pandemic’s impact on the world economy. Striking a cautiously optimistic tone, the report finds that "global economic prospects have improved markedly in recent months," revising its GDP growth forecast for 2021 upward by more than 1 percentage point compared to the December issue of the OECD Economic Outlook.
Boosted by the global vaccine rollout, gradual reopenings and government stimulus, the OECD expects global GDP to grow by 5.6 percent this year, and continue the recovery with 4.0 percent growth in 2022. A high degree of uncertainty remains, however, as new virus mutations could spark another wave of infections during the vaccination campaign or even prove resistant to the vaccines currently deployed.
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