Summary The global economic situation
The pandemic caused by Covid 19 and the subsequent health and economic impact led to a 3.3% fall in global GDP in 2020 with China being the only major economy to register positive growth (2.3%).
After a year of the pandemic, a high level of uncertainty remains about how the future will pan out in both pidemiological and economic terms. With good progress in the vaccination programs and the stimulus measures, a return of confidence is expected, as well as the disappearance of any mobility and activity restrictions. This, in turn, should lead to an upturn in growth which, according to the IMF, will reach 6 provided that any virus variants and doubts on the efficiency and safety of the vaccines do not dampen these expectations. Recovery will be uneven among countries and in good measure it will depend on their productive structures. Those with economies dependent on tourism and sectors that require greater social contact will feel the negative effects of the crisis for longer.
