OECD warns governments against spending cuts as Covid-19 remedy
The organisation says public spending will be vital to support the rebound in growth expected in 2021 as vaccines enable a gradual return to normality
01 December 2020 - 18:30
Paris — The resurgence of the coronavirus pandemic has dramatically weakened the global recovery and it could get a lot worse if governments withdraw support too soon or fail to deliver effective vaccines, the Organisation for Economic Co-operation and Development (OECD) has warned.
Cutting its 2021 global growth forecast to 4.2% from 5% in September, the Paris-based organisation said a pattern of outbreaks and lockdowns is likely to continue for some time with rising risks of permanent damage...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.