The recent developments in vaccines for Covid-19 offer glimmers of hope for the global economy, the OECD said on Tuesday, but it warned there were many potential pitfalls in the economic recovery from the pandemic.
Releasing its latest forecasts for the world economy, the Paris-based international organisation predicted a strong rebound from this year’s historic global recession in 2021, but said that the world economy would not fully regain the lost output until the end of next year.
“We’re still in the middle of the worst crisis, but there is now hope,” said Laurence Boone, OECD chief economist. “The challenge is how to get out of the situation fast and with as little damage as possible.”
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