The global recovery from COVID-19

Abstract

The COVID-19 pandemic has had a significant economic impact around the world, far larger than during the Global Financial Crisis of 2008-2009. By mid-2021, global Gross Domestic Product (GDP) surpassed its pre-pandemic level, but the recovery has lost momentum and remains very uneven, with strikingly different outcomes across countries, sectors and demographic groups. Given the uneven and incomplete global recovery, governments need to maintain supportive and flexible policies that can be adapted to economic developments and which improve the prospects for sustainable and inclusive growth.