The UN revised its forecast for the global economy upward to 5.4% growth in 2021 but warned that rising COVID-19 cases and insufficient availability of vaccines in many countries threaten the overall recovery.
The UN report on the global economic situation and outlook for mid-2021 noted the rapid deployment of vaccines in several large countries, led by the US and China, as well as the growth of world trade.
But the UN warned that this is unlikely to be enough to lift the rest of the world, and the economic outlook for South Asia, Sub-Saharan Africa, Latin America, and the Caribbean remains fragile and uncertain.
The US economy will reportedly grow by about 6.2% this year, which is the fastest-growing US economy since 1966, China's economy is expected to grow by about 8.2%.
The growth rate in developing countries would have been higher than the world average, but this year the average growth rate in many developing countries and regions is lower due to the pandemic, it is noted.
One of the key factors of economic recovery was an investment: in some countries, such as the United States, investments fell by only 1.7% last year, while in some developed countries, investments fell by 4% of GDP or even more.
The $ 16 trillion stimuli to counter the economic impact of the coronavirus pandemic was sorely needed to avoid a complete collapse of the global economy, but it did not lead to a significant increase in investment.