Among low-income economies, where vaccination has lagged, the effects of the pandemic have reversed poverty reduction gains and aggravated insecurity and other long-standing challenges. Per capita income losses will not be unwound by 2022 for about two-thirds of emerging market and developing economies. ![]() ![]() However, many emerging market and developing economies continue to struggle with the COVID-19 pandemic and its aftermath, the World Bank says in its June 2021 Global Economic Prospects.ĭespite the recovery, global output will be about 2% below pre-pandemic projections by the end of this year. ![]() WASHINGTON, JThe global economy is expected to expand 5.6% in 2021, the fastest post-recession pace in 80 years, largely on strong rebounds from a few major economies. ![]() Output to remain below pre-COVID trends despite robust rebound by US and China
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