5.6% growth is expected for the global economy in 2021

The Organization for Economic Cooperation and Development expected that the global economy will grow this year more than expected, supported by the increased deployment of vaccines against the "Covid-19" virus, and the large fiscal stimulus plan approved by the US Congress, valued at $ 1.9 trillion.

In its latest report on its temporary economic outlook, the organization stated that the global economy will grow by 5.6% in 2021.

And the Associated Press quoted a report by the Paris-based organization that the global growth prospects may be better than current expectations if the production and distribution of vaccines accelerate, indicating at the same time that the risks to the global economy are still great.

The report stressed that faster progress in deploying vaccines in all countries will enable restrictions to be lifted more quickly, and boost confidence and spending.

The Organization for Economic Cooperation and Development expects that the gross domestic product of the United States will expand by 6.5% this year, up from minus 3.5% last December, but it expected growth in the United Kingdom to jump from negative 9.9% to 5.1%.

India is leading the emerging market forecast, as its GDP rose from minus 7.4% in December to 12.6% in March 2021.

Follow our latest local and sports news, and the latest political and economic developments via Google news