The UN has improved its GDP forecast this year

News

The UN has improved its GDP forecast this year

13.05.2021 News

The United Nations has raised its GDP growth forecast to 5.4% (from 4.7% in January) in 2021. This is stated in the report of the organization.

According to the UN, after a sharp decline of 3.6% in 2020, the world economy is expected to grow by 5.4% this year.

It is noted that global growth is due to “strengthening economic activity in the United States and China”, as well as economic recovery after the pandemic. In addition, the UN added, world trade has already reached pre-pandemic levels.

At the same time, there is an uneven economic recovery in different regions of the world. For example, for some countries in South Asia, sub-Saharan Africa, Latin America and the Caribbean, GDP growth prospects are called “fragile and uncertain”, and for European countries – “modest”.

The reason for this is the inequality in the distribution of coronavirus vaccines between countries and regions, the UN said.

“Timely and universal access to COVID-19 vaccines will mean a rapid end to the pandemic and the transition of the world economy to a sustainable recovery trajectory,” the report said.

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