World Bank raises 2021 global growth forecast to 5.6pc

Fueled by a strong recovery and widespread vaccinations in advanced nations, the global economy is now expected to grow 5.6 per cent this year, 1.5 points faster than projected in January, the World Bank said Tuesday.

It is the fastest post-recession bounceback in 80 years, but the bank warns in its latest Global Economic Prospects report that many countries, especially poor nations, are being left behind and will take years to return to their pre-pandemic levels.