Global Economy projected to expand by 5.4%

Africa Rise and Shine

The Global Economy is now projected to expand by 5.4% in 2021 reflecting an upward revision of forecasts earlier in the year and after a sharp contraction of 3.6% in 2020 largely due to the coronavirus pandemic. The UN's World Economic Situation and Prospects mid-year report also finds that amid rapid vaccination and continued fiscal and monetary support, the world's largest economies of the United States and China are well set on a path to recovery. This however is contrasted by growth outlooks that remain fragile in many parts of the developing world including sub-Saharan Africa where COVID-19 vaccine rollout remains slow. Sherwin Bryce-Pease reports…