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9 Feb 2021

 

Global economy to see uneven recovery in 2021

 

The global economy is expected to grow by 5% in 2021, returning to 2019 levels by year-end, with 6.3% projected for emerging markets, versus 3.9% for advanced economies. Emerging Asian countries, led by China and India, will recover much more strongly than the rest of the world. 

 

Despite the optimism, a significant hit to the global economy in H1 2021 is still possible. A stretched wave of global infections, the new emergence of new variants, and the reintroduction of severe and long-lasting lockdowns could lead to W-shaped recovery, with higher levels of economic scarring, insolvencies, and unemployment. 

 

 

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