OECD forecast:

According to the forecast of the Organization for Economic Cooperation and Development (OECD), in 2021 the GDP of the G20 countries will grow by 6.2% against 4.7% of the previous forecast, and in 2022 it will be 4.1% (previously 3.7%). Global GDP growth in 2021 may reach 5.6%, and in 2022 the growth rate is expected to reach 4%.


"By mid-2021, global GDP should be above the pre-pandemic level, although this will not happen in all countries," - this forecast is contained in the published preliminary report of the OECD on the economic prospects of the G20 countries and other countries of the world.

As the report highlights, "the global economic outlook has improved markedly in recent months, thanks to the gradual introduction of effective vaccines, as well as additional financial support measures for the economy in a number of countries."

At the same time, the OECD noted that despite the improved global outlook, output and income in many countries will remain below the level expected before the pandemic by the end of 2022.

The euro area countries are expected to grow at 3.9% against 3.6% of the previous forecast, in 2022 the GDP growth rate is projected at 3.8% (previously 3.3%).

The indicators of the main EU countries are expected to be positive. Germany's GDP growth will be 3% in 2021 and 3.7% in 2022, France's GDP is projected at 5.9% and 3.8%, and Italy's at 4.1% and 4%.

Spain will achieve GDP growth of 5.7% in 2021 and 4.8% in 2022. The GDP of the UK, which has left the EU, could be 5.1% this year and 4.7% in 2022.

According to the OECD forecast, Saudi Arabia's economic growth in 2021 could reach 2.6% and 3.9% in 2022. South Africa – 3% and 2%.

The OECD report notes that the US economy is expected to grow at 6.5% in 2021 and 4% in 2022. Two Asian countries will overtake the United States in this indicator - China (GDP growth is projected in 2021 at 7.8%, in 2022-4.9%) and India (GDP growth in 2021 – 12.6%, 5.4% in 2022). Japan's possible indicators are much lower  – 2.7% this year and 1.8% in 2022. South Korea's GDP growth forecast for 2021 is 3.3% and 3.1% in 2022.

"The economic impact of the pandemic continues to be well resisted by many countries in the Asia-Pacific region. This is due to effective measures in the field of public health, as well as the significant regional momentum in the economy, which is provided by the rise in industrial activity and the recovery of Chinese economy. Additional fiscal support is also helping the economic recovery in Japan and India" reads the report.

It is noted that the final data will be published by th.organization around May – June this year.