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Global Economy to Expand by 4% in 2021; Vaccine Deployment and Investment Key to Sustaining the Recovery - Liberia news The New Dawn Liberia, premier resource for latest news

Global Economy to Expand by 4% in 2021; Vaccine Deployment and Investment Key to Sustaining the Recovery - Liberia news The New Dawn Liberia, premier resource for latest news
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Economic activity in Sub Saharan Africa to rise by 2 7% in 2021

5th February 2021 Analytical sections of the latest Global Economic Prospects report for January 2020 by the World Bank have shown that the output in the Sub-Saharan Africa (SSA) region contracted by an estimated 3.7 percent in 2020, as the COVID-19 pandemic and associated lockdowns disrupted economic activity. As a result, per capita income shrank by 6.1 percent in 2020, setting average living standards back by at least a decade in a quarter of Sub-Saharan African economies. Hardest hit were countries with large domestic outbreaks, those heavily dependent on travel and tourism, and commodity exporters, particularly oil exporters. In Nigeria and South Africa, output fell sharply last year. Nigeria’s economy is estimated to have contracted 4.1percent in 2020, as the effects of the pandemic impacted economic activity in all sectors.

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Vaccine deployment, investment key for post-pandemic recovery

‘Vaccine deployment, investment key for post-pandemic recovery’ 08 ‘Vaccine deployment, investment key for post-pandemic recovery’ A NEW World bank report shows that the global economy is expected to expand by 4 per cent in 2021, calling for authorities to facilitate a re-investment cycle aimed at sustainable growth that is less dependent on government debt. To ensure recovery, policy makers should move decisively to tame the pandemic and implement investment-enhancing reforms, the WB says in its January 2021 Global Economic Prospects. “While the global economy appears to have entered a subdued recovery, policymakers face formidable challenges in public health, debt management, budget policies, central banking and structural reforms as they try to ensure that this still fragile global recovery gains traction and sets a foundation for robust growth,” said World Bank Group President David Malpass.

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World Bank expects global economy to expand by 4% in 2021 | Hellenic Shipping News Worldwide

World Bank expects global economy to expand by 4% in 2021 Policy makers must move decisively, according to January’s Global Economic Prospects, and although it is already growing again following the 4.3 per cent contraction of 2020, the COVID-19 pandemic has caused “a heavy toll of deaths and illness, plunged millions into poverty, and may depress economic activity and incomes for a prolonged period”, said a press release issued by the World Bank – a key financial institution within the United Nations system. Immediate policy priorities should now focus on controlling the spread of coronavirus and ensuring rapid and widespread vaccine deployment. “To support economic recovery, authorities also need to facilitate a re-investment cycle aimed at sustainable growth that is less dependent on government debt”, the Bank advises.

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World Bank projects global economy to grow by 4 pct in 2021 with widespread vaccination

The global economy is on track to grow by 4 percent in 2021, assuming vaccination for COVID-19 becomes widespread throughout the year, the World Bank Group said in its latest Global Economic Prospects released on Tuesday.

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