UN Raises 2021 Economic Growth Forecast to 4.7% on COVID Recovery Hope

The United Nations increased its projections for global economic growth in 2021 on the heels of COVID-19 vaccination programs and fiscal policies designed to restore the world’s workforce.

The UN Conference on Trade and Development increased the projections by 0.6% over its 2020 predictions. While optimistic, UN officials caution nations that progress to pre-pandemic levels will be uneven and will likely take years.

UN officials have also been putting pressure on nations that intend to inject massive amounts of stimulus money into their economies, in an attempt to quell any significant rise in inflation. 

Estimates out of the Organization for Economic Cooperation and Development (OECD) predict global growth of 5.6%, an increase over its projections of 4.2% in 2020. 

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