The growth of the global economy in 2021 may reach 4.7% compared to last year. This forecast is contained in the report of the United Nations Conference on Trade and Development (UNCTAD) published on Thursday in Geneva, TASS reports.
“The global economy is expected to grow 4.7% this year,” the study said. Its authors remind that these figures are higher than the forecasts for 2021, which were discussed in September (4.3%). The improved expectations, they said, “are attributed to a stronger recovery in the United States,” which has seen “progress in vaccine use [for the coronavirus]” and recently announced a $ 1.9 trillion economic stimulus.
At the same time, according to experts, by the end of 2021, the world economy will miss more than $ 10 trillion, which it could receive if the growth trends that took place in the world before the coronavirus pandemic continued.
The authors of the report draw attention to the continuing “weakness of multilateral cooperation” in the world and the lack of desire to “deal with the problems of inequality”, which worsens the prospects for successful development. “Without a change of course, unbalanced recovery, vulnerability to new shocks and insecurity will become the new normal for many,” UNCTAD said.