The OECD has radically raised its forecast for world economic growth this year to 5.8%,
from a forecast of 4.2% from December 2020. Large scale stimulus spending in the US combined with aggressive vaccination campaigns have turned developed countries, China and India into world locomotives for growth. The world leaders are: India +9.9%; China +8.5%; UK +7.2%; US +6.9%; France +5.8%; and Turkey +5.7%. Ten days ago, Ukraine’s Economy Ministry downgraded its 2021 growth forecast to 4.1%, from 4.6%.