The forecasting firm has sketched out three possible outcomes, including one that predicts no discernible effect on economic growth and one severe enough to slash next year’s in half. A virulent, vaccine-resistant strain could send the economy into a tailspin again, while a mild one could leave health care systems unburdened and allow the recovery to get back on track. A report released Wednesday by the Organisation for Economic Cooperation and Development showed that although growth has been uneven, the world economy this year bounced back more quickly and strongly than had been anticipated. Indeed, omicron’s threat to the recovery is just the latest in a series of zigzags that the world economy has endured since the coronavirus began its march across continents last year. Even before this latest variant was discovered, a fourth wave of infections transformed Europe into a COVID-19 hot spot and prompted new restrictions like lockdowns in the Netherlands and Austria.

Source: bd News24 December 02, 2021 09:10 UTC