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Cumulative investments of governments and companies in upskilling and reskilling initiatives could boost global GDP by USD 6.5 trillion and create 5.3 million net new jobs by 2030, according to a report by PwC and
World Economic Forum. China will benefit the most from such an initiative, while the states of Central and Eastern Europe will benefit less, due in part to the structure of the economies and the level of education.
“The economies of Central and Eastern Europe still carry the burden of the transition to the free market namely: long-term unemployment, the lack of participation in labour markets, education systems that have not evolved at the same pace as labor market demand. That’s why they are more vulnerable to changes in new technologies that require high skills. Two years ago, we estimated that around 600,000 jobs in Romania will be affected, by 2029, by automation and digitization. We expect this process to be much faster in the new context, changed by the pande
The global economy is projected to grow in 2021 by around 5%, the fastest rate recorded in the 21st century, returning the global economy in aggregate to pre- pandemic levels of output by the end of 2021 or early 2022, according to PwC Global Economic Watch 2021.
While the global economy is likely to be back to its pre-crisis levels, the rebound will be uneven across different countries, sectors and income levels. Growth will be contingent on a successful and speedy deployment of vaccines and continued accommodative fiscal, monetary and financial conditions in each country.
”The global optimistic forecasts give confidence that the recovery of the past year losses will be faster than previously thought at the start of the pandemic. Romania is following the global trend, given that the National Commission for Strategy and Prognosis forecasts an increase of 4.5% this year, after the decline of 4.2% in 2020. This is good news for the business environment that will need, however, furt