The OECD says 'sizeable uncertainty remains' about the global economic recoveryPARIS - The OECD warned Tuesday of an"uneven" global economic recovery as it lowered its 2021 growth forecasts for the world and the United States while raising the outlook for Europe.
Global gross domestic product has surpassed its pre-pandemic level following last year's Covid-induced recession. "Output and employment gaps remain in many countries, particularly in emerging-market and developing economies where vaccination rates are low," the report said. The growth prospects of Argentina, Brazil, Mexico, South Africa, South Korea and Turkey have also improved, while those of Australia, Britain, Japan and Russia were lowered.
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