The COVID-19 pandemic interrupted the strong economic growth performance in 2016-19, which entailed large increases in employment and real incomes, and the lowest unemployment rate in thirty years. The swift vaccination rollout allows a faster recovery from the pandemic from mid-2021 onwards.
©Shutterstock/YasonyaHungary Economic Snapshot
Iceland’s economy is recovering from a deep COVID-19 recession. Fisheries and intellectual services exports are on the rise and foreign tourists are starting to come back as travel restrictions are gradually eased. The health crisis has been relatively mild so far, thanks to a smart testing and tracking strategy and a well-functioning health system.
© Reuters/Ao ThorIceland Economic Snapshot
The 2021 Annual Conference of the OECD Global Forum on Productivity (GFP) will be held back-to-back with the G20 Ministerial Meeting in Italy, organised jointly with the G20 Presidency of Italy, the Ministry of Economy and Finance of Italy and the Bank of Italy.
©AdobeStock/Sergii FigurnyiConference page
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
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