The World Bank predicted the strongest rebound in the global economy in 80 years

Drivers of global economic growth will be pent-up demand in CHINA and large-scale cash injections into the US economy. However, many developing countries will not be able to offset the decline in per capita income by 2022 In 2021, the World Bank (WB) expects the global economy to grow by 5.6%, according to its this is the fastest recovery from a recession in the last 80 years. The main reason is the intensive growth of economic activity in several large countries, according to the WB report "World Economic Outlook" for June 2021.

The best result in 2021 will be shown by China , whose economy, according to the WB forecast, will grow by 8.5%. In second place is India with 8.3%, in third place is the United States with 6.8%, in fourth place is Argentina with 6.4%, the fifth place is shared by Turkey and Mexico (both 5% each). The growth of the US economy by 6.8% will be due to the action of large-scale fiscal support measures and the easing of pandemic-related restrictions, the World Bank states. An impressive recovery in China - by 8.5% - will reflect the satisfaction of pent-up demand.

Many emerging market and developing countries continue to experience difficulties in coping with the covid-19 pandemic and its consequences, the World Bank notes. According to him, about two-thirds of these countries will not be able to compensate for the decline in per capita income by 2022.

“Despite encouraging signs of a global economic recovery, the pandemic continues to exacerbate poverty and inequality among people in developing countries around the world,” World Bank President David Malpass said in the report. “There is an urgent need for a globally coordinated response to accelerate vaccine distribution and debt relief, especially in low-income countries.”

In April, the IMF gave a forecast for world GDP. According to him, the global economy will add 6% in 2021, and 4.4% in 2022. The OECD published its forecast at the end of May, revising its December estimate upwards. According to the new forecast, global GDP in 2021 will grow by 5.8% (according to December expectations - 4.2%), and in 2022 - by 4.4%. Among the main reasons for the improvement in the estimate, the OECD cites the level of vaccination in developed countries and large-scale stimulus measures in the United States.

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