The global economy is recovering from the corona crisis faster than initially thought.

This is mainly because the outlook for China and the United States looks better, the OECD reports Wednesday.

The world economy is likely to shrink by 4.5 percent this year.

While that is a deep recession, it is less severe than the 6 percent contraction forecast in June.

If the corona outbreak is kept under control, the world economy will grow by 5.2 percent next year.

A growth of 5 percent was predicted in June.

If we do suffer more from the corona virus again, growth in 2021 could just be 2 to 3 percentage points lower.

According to the OECD, governments and central banks have made a good choice by financially supporting households and companies. As a result, the blow to the economy is relatively limited.