World Bank predicts economic growth for 2021

The World Bank Group on Tuesday issued a guarded growth forecast for the global economy this year, saying that a four per cent overall expansion was likely, although the recovery will likely be a “subdued” one.

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 bank said that 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.

Atiewin Mbilla-Lawson reports.

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