OECD cuts world's growth forecast

By MG News | December 01, 2021 at 03:26 PM GMT+05:00

0:00

December 01, 2021: The OECD lowered the world's economic growth outlook for 2021 on Wednesday and called for a swifter rollout of covid vaccines, fearing the emergence of "breeding grounds" for deadlier strains.

The global economy is now expected to expand by 5.6 percent this year, down from an earlier forecast of 5.7 percent, the OECD said in its updated economic outlook released as the Omicron variant has sparked concerns about its impact on the recovery.

AFP/APP

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