The Organization for Economic Cooperation and Development (OECD) updated its previous forecast in September, with the global economy contracting from 4.5% to 4.2% in 2020.
The organization added that global economic growth will reach an average of 4% over the next two years and is expected to reach pre-epidemic levels by the end of 2021.
According to CNBC, the corporation has returned the reasons for adjusting expectations to the progress made by pharmaceutical companies in reaching the Corona vaccine, in addition to the unprecedented measures of governments and central banks to mitigate the impact Pandemic Economic.
