The Organization for Economic Cooperation and Development (OECD) downgraded its forecast for the global economic growth in 2021 to 5.7% from the previous prediction of 5.8%, according to a fresh report released on Tuesday
MOSCOW (Pakistan Point News / Sputnik - 21st September, 2021) The Organization for Economic Cooperation and Development (OECD) downgraded its forecast for the global economic growth in 2021 to 5.7% from the previous prediction of 5.8%, according to a fresh report released on Tuesday.
At the same time, the OECD upgraded its forecast for the global 2022 economy growth from 4.4% to 4.5%.
"Global GDP has now surpassed its pre-pandemic level ... The global economic recovery is projected to continue but remain uneven. Vaccination campaigns are proceeding at different rates around the world, and the scale of macroeconomic policy support and the ability to reopen contact-intensive activities differs considerably across economies," OECD said in its report.
