The Organization for Economic Co-operation and Development said on Tuesday that a global economic recovery from the pandemic was finally taking hold, but it reversed its forecast for global economic growth and warned that the recovery would benefit richer nations more than the developing ones. as the distribution of vaccines takes place at an uneven pace.
Countries that have made great strides in vaccinating most of their populations are recovering much faster than countries that are still struggling to get shots, the OECD said, raising a host of related economic problems affecting global supply chains and increasing a pose a risk for the future.
“The global shock that pushed the world into its worst recession in a century is now fading, and we now predict the recovery will return growth to its pre-crisis trend,” said Laurence Boone, chief economist at the United Nations. organization, in a statement. news briefing.
But vaccination rates remain varied, and many low-income countries and emerging markets, except China, are still far behind, Ms Boone added. “If we don’t vaccinate globally, we’re all at risk,” she said.
The warnings came as the OECD released its biannual publication economic forecast, in which it lowered its outlook for global growth, the United States economy and emerging markets, but raised its outlook for Europe.
The global growth outlook for 2021 has been revised slightly downwards from 5.8 percent to 5.7 percent.
The organization, which is based in Paris, said the United States would grow at a rate of 6 percent, down from its forecast of 6.9 percent in May, while the eurozone is expected to grow 5.3 percent. , up from previous expectations of 4.3 percent growth. Slower growth in Germany is expected to be offset by faster-than-expected rebounds in France, Italy and Spain.