The Strategist

WB expects global economy to grow by 4% provided large-scale vaccination is carried

01/07/2021 - 03:11

If vaccination against the COVID-19 coronavirus is universally implemented, the global economy will grow by 4% this year, according to a report by the World Bank (WB).

Sharon Karr/FEMA
Sharon Karr/FEMA
With a slow process of universal vaccination and an increase in new infections, experts allow global economic growth to be limited to 1.6 percent.

"The global economy is expected to grow by 4% in 2021, assuming the initial introduction of the COVID-19 vaccine becomes widespread within a year," the WB said in its January Global Economic Outlook report.

At the same time, analysts caution that the economic recovery will be subdued unless authorities take decisive steps to contain the pandemic and carry out reforms aimed at increasing investment activity.