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Global growth in 2021-22 will be strong, but the virus remains the biggest risk

The global economy could experience strong growth this year and next, although a significant majority of economists surveyed in a Reuters poll warn that new variants of the coronavirus pose the biggest risk.

A global survey was conducted in July among nearly 500 economists.

They forecast that the global economy will grow by six percent this year, the highest rate in nearly half a century, but it is important to keep in mind the low base for comparison due to the severe economic downturn last year. This is followed by a still strong 4.5 percent growth in 2022.

It is estimated that just over half of the 48 economies covered by the survey will grow at higher rates than previously expected in each quarter of this year.

However, the rapid spread of the latest variant of the virus is a reminder that the pandemic has not disappeared despite the increasing coverage of vaccinations.

Survey participants believe that inflation growth in key global economies should be transitory.