World economy to surge 5.6% in 2021
The Organisation for Economic Cooperation and Development (OECD) published a new interim economic outlook for 2021 on Tuesday, saying that the vaccine rollout will provide a "major boost" to world economic recovery, Teletrader reports.
"Global GDP growth is now projected to be 5.6% this year, an upward revision of more than one percentage point from the December OECD Economic Outlook. World output is expected to reach pre-pandemic levels by mid-2021, but much will depend on the race between vaccines and emerging variants of the virus," the report insisted.
When it comes to the real GDP growth projections, the countries which are estimated to register the largest economic expansion are India (12.6%), China (7.8%), and the United States (5.6%).