Title : World Bank: Global Economy to Grow by 5.6% in 2021 #

The World Bank has forecasted that the global economy is set to grow by 5.6% in 2021. This is a significant increase compared to the previous projection of 4.1%. The revised estimate is due to the improved outlook for advanced economies, which are expected to grow by 5.4% this year. Developing economies are also expected to experience a rebound with a growth rate of 5.7%. However, the World Bank warns of continued uncertainty due to new COVID-19 variants and potential supply chain disruptions. The recovery is still expected to vary across countries, with some facing more challenges than others.

World Bank Forecasts Global Economy to Grow by 5.6% in 2021 #

The World Bank has revised its projection for global economic growth in 2021, now predicting a growth rate of 5.6%, up from the previous estimate of 4.1%. Advanced economies are expected to grow by 5.4%, while developing economies are forecasted to rebound with a growth rate of 5.7%. However, the World Bank cautions that uncertainties remain, including the impact of new COVID-19 variants and potential disruptions in the supply chain. Economic recovery is also expected to vary across countries, with some facing greater challenges than others.