expects a 7.6% increase in 2021

Recall that the local economy has three consecutive years of falls, due to the currency crisis that erupted in 2018 with the government of Mauricio Macri, to which was added the Covid-19 pandemic. In 2020, GDP registered a drop of 9.9%, above both the world average and the regional average.

The global economy fell 3.4% last year. An average rebound of 5.7% is expected for this year, for which Argentina would exceed this figure.

The OECD noted that the economic recovery was being driven by “strong government support, the development of effective vaccines and the resumption of many economic activities.”

In the case of Eurozone (countries that use the euro as their currency), the agency increased its growth forecast by one point to 5.3%.

For its part, in the case of China, maintained its expansion estimate at 8.5%, while for Mexico and Brazil it increased them by 1.3 and 1.5 points to 6.3% and 5.2% respectively.

In the case of United States, the OECD lowered its growth projections to 6%, or 0.9 percentage point from the previous estimate.

“The Delta variant hit very well they are recovering again with a lot of force,” Laurence Boone, chief economist of the OECD, explained at a press conference of the case of the US economy. held today.

With these projections, global GDP will return to “its pre-pandemic level”, although The Paris-based agency warned of the risk that inequalities between countries imply in access to vaccines and also of the problem of inflation. generated by recovery in demand, rising commodity prices, supply chain issues; and rising transportation and freight costs.

Price increases are expected to average 4.5% in G20 economies, then slow to 3.5% by the end of 2022. The spike in inflation has mainly hit the United States, Canada, the UK and some emerging economies.

In the case of Argentina, the report raised its inflation forecasts by 2 and 6.5 points for 2021 and 2022, to stand at 47% and 48.3% per year, respectively.

However, the organization has stressed to governments that macroeconomic and accommodative policies as well as monetary stimuli must persist., avoiding a “sudden and premature elimination of aid policies” until “short-term prospects are more certain and the labor market has recovered”.