Global economy | Vaccines

More jabs, more jobs

09/03/2021 PNG

Speeding up vaccine production and rollout is the best economic policy available today to boost growth and job creation.

The global vaccine rollout remains uneven, with restrictions remaining in some countries and sectors. The outlook for growth would improve (upside scenario) if the production and distribution of doses accelerates, is better co-ordinated around the world and gets ahead of virus mutations. This would allow containment measures to be relaxed more rapidly and global output to approach pre-pandemic projections for activity. But consumer spending and business confidence would be hit (downside scenario) if vaccination programmes are not fast enough to cut infection rates or if new variants become more widespread and require changes to current vaccines.

More information at OECD Economic Outlook, Interim Report March 2021

See also: The race to vaccinate