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London financial analysts say a decade of recovery in the world economy could begin this year after life is expected to start returning to normal with the completion of the global coronavirus vaccination campaign.
On the first day of each year, the Center for Economics and Business Research (CEBR), one of London’s most prestigious business and economic analysts, produces a comprehensive forecast of the world economy for the next twelve months. According to his forecast announced on Friday
In various sectors, in addition to price increases, service providers may also face increased demand that they may not be able to meet.
This can be especially true in the field of tourism, as the epidemic has prevented people from traveling for the last year.
In this context, CEBR London analysts expect that
World-class GDP, which they calculated fell 4.4 percent last year, will rise 5.3 percent this year.
The company notes that the last time 45 years ago, in 1976, there was the same annual growth rate in the world economy. According to them, due to similar factors, the growth rate of the British economy may break a decades-long record this year. The UK’s gross domestic product fell 11.4 percent last year, but at the time of the epidemic, additional savings of £ 200 billion (HUF 82 billion) were generated in the British domestic sector. If this amount appears as an expense this year, the UK’s GDP could grow around 8 percent in 2021, according to a forecast from CEBR on Friday.
According to CEBR’s historical hindsight, the British economy did not produce this or similar growth rates in the past century until 1915, 1927, 1940 and 1941. Other major London houses have also made optimistic predictions about the growth prospects of the world economy after the arrival of vaccines against the coronavirus. In its new revised forecast, Oxford Economics has raised its global growth forecast for 2021 from 4.9% which it had previously assumed to 5.2%.
According to the study’s retrospective report, this will be stronger than the world economy achieved after the global financial crisis in 2010 and will also exceed the pace of recovery from the recessions of the 1980s and 1990s, respectively.
According to a graphical analysis by Oxford Economics, global average quarterly growth for this calendar year will be the highest since 1978. It was emphasized that, for most of 2020, there were marked downside forecast risks. However, with the launch of at least three safe and effective vaccines, several negative risk factors have disappeared, including the risk of a number of additional epidemic waves, and the number of factors driving the prognosis has started to rise at the same time. , according to a study by Oxford Economics.
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