The Organisation for Economic Cooperation and Development upgraded its global economic forecast for 2020 as output picked up swiftly following the easing of coronavirus confinement measures and the initial re-opening of businesses.
According to the interim report, released Wednesday, the global economy will shrink 4.5 percent this year instead of 6 percent fall estimated in June. Meanwhile, the growth projection for 2021 was revised down to 5 percent from 5.2 percent.
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