World trade recovery from the COVID-19 crisis hit a record high in the first quarter of 2021, increasing by 10% year-over-year and 4% quarter-over-quarter, according to UNCTAD’s Global Trade Update released on 19 May.
The Organization of the Petroleum Exporting Countries (OPEC) expects the world economy to grow 5.1% in 2021, revising up its previous estimate (4.8%), according to the cartel's closely-scrutinized monthly market report released on Thursday (March 11).
The world economy will grow 5.5% in 2021, after sinking 3.5% in 2020, the worst year since World War II, the International Monetary Fund (IMF) predicted Tuesday (Jan. 26).
The world economy kicks off 2021 with record high debt levels that will slow post-coronavirus recovery and could destabilize some countries, the Institute of International Finance (IFF) warned.
The Russian economy could pick up faster than expected, the country's Central Bank Head Elvira Nabiullina stated on Friday (Dec. 18). "We expect a stable restart of recovering growth next spring," Nabiullina told TASS news agency.
Countries around the world are re-imposing painful Covid-19 restrictions on public life and that’s a “major downside risk” for the fourth quarter, according to Swiss banking giant UBS.
The European Council on Tuesday (Oct. 6) decided to add Anguilla and Barbados to the EU list of non-cooperative jurisdictions for tax purposes.
The UK has officially entered a recession as the economy shrunk by a record 20.4% between April and June, when the Covid-19 lockdown measures were tightest.
Saudi Arabia's foreign reserves fell again in April, as the kingdom's sovereign wealth fund spent overseas.
The European Union will see its economy contract by -7.4% this year, entering its deepest recession, the European Commission said Wednesday (May 6). Inflation is forecast at 0.6% while the unemployment rate is forecast to rise to 9%.
