The brightening outlook for the global economy will give governments leeway to switch from blanket emergency support to more targeted measures, with a focus on investing, the OECD has said.
The Paris-based organisation said global output would rise 5.8 per cent this year, a significant upgrade from the forecast of 4.2 per cent made in December. Growth of 4.4 per cent the following year would bring most of the world back to pre-pandemic levels of activity, it added.
However, the OECD also warned that the recovery would be uneven and living standards in many developed economies will still fall well short of the levels expected before the pandemic.
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