PARIS – The world economy is bouncing back from the pandemic crisis faster than expected, thanks in part to successful coronavirus vaccines and U.S.
stimulus efforts, but the improvements are uneven and joblessness remains a big concern, according to a new forecast. The Organization for Economic Cooperation and Development on Tuesday raised its expectations for global GDP growth to 5.5% this year and 4% next year.
That is up from a December forecast of 4.2% growth in 2021 and 3.7% for 2022. After the virus plunged the world economy into crisis last year, the OECD now expects global output to surpass pre-pandemic levels by the middle of this year.