OECD has improved its forecasts for the global economy

The Organization for Economic Co-operation and Development has updated its forecast for the growth of the world's key economies upward for 2020-2021.

In particular, global GDP this year will fall by only 4.5% against June expectations of 6%.

The US economy will shrink in the updated version only by 3.8% against the previous forecast of 7.3%. Similar improvements were recorded in the economies of China, the euro-zone and Russia.

Next year, the global economy may return to growth and expand by 5% if the spread of the virus can be contained.

OECD forecasts are based on the assumption that local outbreaks will continue, but will only trigger targeted responses, rather than entire countries being quarantined. Th.organization also does not expect widespread access to the COVID-19 vaccine until the end of next year.

Note that the daily dynamics of coronavirus infection in the world accelerated to 308.2 thousand. The total number of infections and deaths as of the morning of September 17, according to Worldometers counter, exceeded 30 million and 945 thousand, respectively. In the number of infections, India has crossed the threshold of 5 million cases, and the daily dynamics of infections is approaching 100 thousand. Growth is also seen in Spain and France.