The global economy is recovering faster than expected. This was announced at a speech on March 20 by the first deputy head of the International Monetary Fund (IMF) Jeffrey Okamoto.
Okamoto said the IMF had forecast global economic growth in 2021 at 5.5% in January.
“However, there are prospects for a faster recovery thanks to additional fiscal stimulus, especially in the US, and the prospects for larger vaccinations,” the IMF press service quoted Okamoto as saying.
He also noted the uneven recovery of the global economy. For example, China has already returned to pre-crisis levels, but most countries continue to grapple with the effects of the pandemic. This, Okamoto stressed, could lead to widening the gap between developed and developing countries.
In addition, Okamato said about the uneven distribution of coronavirus vaccines in the world, which could delay the recovery of the global economy.
“The international community must rapidly increase vaccine production. We must provide funding to low-income countries to purchase and distribute vaccines. In this regard, we ask leading countries to support vaccine production and provide funding to developing countries, ”added Okamoto.
Also, the deputy head of the IMF advised to adapt enterprises and the economy to the conditions of the pandemic and strive for digitalization and the transition to green energy.
In February, the head of the Central Bank Elvira Nabiullina said that the regulator in the baseline scenario hopes for the recovery of the Russian economy this year. She cited as an example the fact that during the exacerbation of the coronavirus pandemic in the fall of 2020, the Central Bank expected a “greater recession or pause” in the economy in the fourth quarter, but this did not happen.