Structural and institutional strengths, a strong crisis response and a high level of digitalisation have helped the Netherlands to weather the COVID-19 crisis with so far limited economic damage compared to many OECD countries.
©Shutterstock/Eric GevaertNetherlands Economic Snapshot
Activity in many sectors has picked up and partially adapted to pandemic restrictions. Vaccine rollout, although uneven, is gaining momentum and government stimulus, particularly in the United States, is likely to provide a major boost to economic activity. But prospects for sustainable growth vary widely between countries and sectors. Faster and more effective vaccination deployment across the world is critical.
©ShutterstockNo ordinary recovery: Navigating the Transition
Global economic prospects have improved, helped by the deployment of vaccines & policy support. Global GDP growth is projected to be 5.8% in 2021 & 4.4% in 2022, but uncertainty remains. On the upside, faster vaccine rollout worldwide could boost confidence & spending, raising growth to 6½% in 2021 & over 5¾% in 2022. On the downside, if the speed of vaccine deployment does not stop the transmission of the virus or new variants emerge, global growth would be weaker, at 5% in 2021 & 3% in 2022.
©OECDGeneral Assessment of the Macroeconomic Situation
The Spanish economy entered a deep recession in 2020 due to the coronavirus pandemic. A strong government response has protected jobs and firms. However, the crisis has exacerbated long-standing structural challenges, such as high unemployment, inequalities and regional disparities. The national recovery plan will help the nearterm recovery and should also be used to promote long-term growth potential.
©Shutterstock/kavramSpain Economic Snapshot
The COVID-19 pandemic is exposing long-standing structural weaknesses in our economies and widening gaps in living standards among countries, regions and people. Just as the vaccine rollout gradually instils hope, the post-pandemic recovery creates new opportunities to set in place the foundations for a vibrant recovery. With continued macroeconomic support, policymakers can shape the recovery to boost growth, enhance resilience and inclusiveness, and improve environmental sustainability.
©Shutterstock/Anton PetrusGoing for Growth