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Uncertainty still reigns supreme, clouding the global economic outlook following the devastation of 2020. In its latest Global Economic Prospects report, the World Bank revised upward its expectations for global growth, while underscoring the deep uncertainty of such projections, given varied success in vaccine rollouts and a lack of clarity as to when the pandemic will abate.
In its June 2021 Global Economic Prospects report, the World Bank states its expectation that the global economy will expand 5.6 percent in 2021, “its strongest post-recession pace in 80 years.” But the recovery, the Bank says, is “ uneven and largely reflects sharp rebounds in some major economies.”
Global inequality is likely to widen this year as a small number of major economies power the fastest recovery in 80 years while many poorer countries struggle to return to pre-pandemic income levels, the World Bank said. The global economy is set to grow by 5.6% this year, up from a January forecast of 4.1%, .
COVID-19 vaccine poverty is the new GDP downtoearth.org.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from downtoearth.org.in Daily Mail and Mail on Sunday newspapers.
9 Jun in 16:00
The Georgian economy is projected to grow 6% in 2021, 5% in 2022 and again 5% in 2023, says the June edition of the World Bank’s report Global Economic Prospects 2021.
According to the latest GDP data of April 2021 published by the National Statistics Office of Georgia the estimated real gross domestic product growth rate in April equaled 44.8% year-on-year and 8.1% in January-April of 2021 year-on-year.
Georgian Finance Minister Lasha Khutsishvili claims Georgia will be a country whose economy will recover one of the fastest in the post-pandemic period. He also said that the Georgian economy is expected to grow 6.5% in 2021, and 6.9% in 2022, agenda.ge reported.
June 10, 2021
WASHINGTON (AP) The World Bank is upgrading the outlook for global growth this year, predicting that COVID-19 vaccinations and massive government stimulus in rich countries will power the fastest worldwide expansion in nearly five decades.
In its latest Global Economic Prospects report, out on Tuesday, the 189-country anti-poverty agency forecasts that the world economy will grow 5.6 per cent this year, up from the 4.1 per cent it forecast in January. The global economy last year shrank 3.5 per cent as the coronavirus pandemic disrupted trade and forced businesses to close and people to stay home.
The projected expansion would make 2021 the fastest year of growth since 1973’s 6.6 per cent. But the 2021 rebound will be uneven, the bank predicts, led by rich countries such as the United States (US) that could afford to spend vast amounts of taxpayer money to support their economies: 90 per cent of advanced economies are expected to return to pre-pandemic levels nex