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COVID-19 Desynchronizes Economic Growth, Fiscal Stimulus Continues
The current global economic growth outlook is based on more complete source data for 2020 than were available in the first quarter of 2021. The forecast for 2021-2023 visualizes better the desynchronizing effects of Coronavirus on the global economy and the impact of monetary and budgetary changes designed to strengthen economic recovery. Worldwide real GDP declined by 3.3 % in 2020, led by significant falls in GDP in the European Union (-6.1%), and South America (-6.6%).