OECD raises 2021 global growth forecast to 5.6 pct

Baku, March 10, AZERTAC

Global gross domestic product (GDP) will grow at 5.6 percent this year if vaccination rollout is fast and effective enough across the world, the Organization for Economic Cooperation and Development (OECD) said Tuesday in its Interim Economic Outlook, according to Xinhua.

The forecast was 1.4 percentage points higher than the Paris-based organization's December prediction.

In its Interim Economic Outlook, the OECD predicted world output is expected to reach pre-pandemic levels by mid-2021 and the world economy is expected to grow by 4 percent in 2022 after a 5.6-percent growth in 2021.

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