The global economy is poised for a solid rebound this year as vaccines and expansionary policies help repair damage from a pandemic that destroyed more than a quarter of a billion jobs, according to the United Nations Conference on Trade and Development. Last year’s contraction in global GDP of 3.9 per cent eliminated an estimated 255 million full-time jobs, “with no region spared”, it said. Nations that tackled the Covid-19 pandemic with rapid monetary, fiscal and vaccination programs will likely see the strongest economic growth this year, according to Unctad’s report. China’s economy will expand 8.1 per cent as a result of Beijing’s continued success in containing the virus and the acceleration of its domestic vaccination program. The euro area will likely see 4 per cent GDP growth in 2021, Unctad said.

Source: The Irish Times March 18, 2021 11:10 UTC