Global economy continues to recover unevenly – OECD
The global economy is growing strongly amid the pandemic, with projections of a 5.7% increase this year and 4.5% in 2022 due to the vaccine rollout and a gradual resumption of economic activity, said the Organisation for Economic Co-operation and Development (OECD).
However, the recovery remains uneven, exposing both advanced and emerging markets to a range of risks.
In a statement, the intergovernmental economic organization said that “countries are emerging from the crisis with different challenges, often reflecting their pre-Covid 19 strengths and weaknesses, and their policy approaches during the pandemic.”
The agency added that the economic recovery is still “incomplete”, with employment and incomes “still short of the levels expected before the pandemic.”
The report added that the unevenness of the recovery is due to the large differences of vaccination rates between countries, renewed outbreaks of the virus, and supply shortages of the vaccine.
