Global economy seen to expand 4% in 2021: World Bank
KUWAIT CITY, Jan 7: The gross domestic product (GDP) of Kuwait is expected to grow 0.5 percent in 2021 and 3.1 percent in 2022 after a contraction of 7.9 percent last year, according to the Global Economic Prospects for January 2021 released by the World Bank recently. In other countries in the Gulf, the forecast for Bahrain is 2.2 percent in 2021 and 2.5 percent in 2022, 0.5 percent in 2021 and 7.9 percent in 2022 for Oman, 3.0 percent in 2021 and 2022 for Qatar, 2.0 percent in 2021 and 2.2 percent in 2022 for Saudi Arabia, and 1.0 percent in 2021 and 2.4 percent in 2022 for the United Arab Emirates.
The COVID-19 pandemic caused output losses in the Middle East region of an estimated 5% in 2020. Employment losses spiked in many economies and employment remains depressed. The income shock from the pandemic is expected to increase the number of people below the $5.50 per day poverty line in the region by tens of millions this yea
Global economy to expand by 4 pc in 2021: World Bank ANI | Updated: Jan 06, 2021 11:27 IST
Washington DC [USA], January 6 (ANI): The global economy is expected to expand by 4 per cent in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year, the World Bank has said.
A recovery, however, will likely be subdued unless policy makers move decisively to tame the pandemic and implement investment-enhancing reforms, it said in its latest Global Economic Prospects report.
In India, the pandemic hit the economy at a time when growth was already decelerating. Output is estimated to contract by 9.6 per cent in fiscal year 2020-21, reflecting a sharp drop in household spending and private investment.
The global economy is expected to expand 4% in 2021, assuming an initial Covid-19 vaccine rollout becomes widespread throughout the year, said the World Bank in its January 2021 Global Economic Prospects.
W Bank: Vaccine Deployment, Investment Key to Global Economy s Recovery thisdaylive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thisdaylive.com Daily Mail and Mail on Sunday newspapers.
Jan 06, 2021 (LBO) – The global economy is expected to expand 4% in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. A recovery, however, will likely be subdued, unless policy makers move decisively to tame the pandemic and implement investment-enhancing ref