The Organization for Economic Co-operation and Development (OECD) expects the global economy to grow by 5.6 percent in 2021. Such data are contained in the new forecast of the OECD, released on Tuesday, March 9. This is 1.4 percentage points higher than in the previous forecast. In 2022, global GDP will increase by 4 percent, DW reported.

The outlook for the global economy has improved significantly thanks to effective campaigns to vaccinate the population against COVID-19 and the allocation of additional financial support measures in some countries, experts explained. They expect that it will be possible to reach the pre-crisis level by mid-2021.

Thus, the growth of US GDP in 2021 will be 6.5 percent, analysts believe. The US President Joe Biden announced his intention to allocate $ 1.9 trillion for economic recovery. The legislative bodies have already approved the anti-crisis package.