The OECD has said that it expects the world GDP to rise sharply in 2021 as vaccines and a huge US financial stimulus have greatly improved economic prospects.
The OECD said that it expects the global economy to grow by 5.6%, which is 1.4% higher from its (earlier) December forecast. The OECD said in a report “Global economic prospects have improved markedly in recent months, helped by the gradual deployment of effective vaccines, announcements of additional fiscal support in some countries, and signs that economies are coping better with measures to suppress the virus”.
Laurence Boone, the Chief economist of OECD said that the world recovery will be largely carried by the United States, with President Joe Biden´s $1.9 trillion stimulus program. The US economy is expected to grow 6.5% this year, which is 3.3% higher than its previous forecast.
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