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OECD: Strong policy support and vaccinations lift eurozone growth outlook

Posted On: 24 Oct 2021   |   Posted By: Politico

FRANKFURT - The eurozone will recover much more quickly from the pandemic's devastating impact than previously assumed, with strong policy support and progress in vaccination campaigns rebooting economic activity, the Organization for Economic Cooperation and Development said Tuesday in its interim outlook.
The outlook for the global economy was left largely unchanged from May, and the OECD doesn't expect massive global fallout from a possible default of China's Evergrande, chief economist Laurence Boone told journalists after the release.
Growth in the single currency union will increase this year by 5.3 percent - 1.0 percentage points up from May's outlook , the OECD said. The outlook for 2022 was lifted by 0.2 percentage points to 4.6 percent.
The OECD also raised its inflation projections for the eurozone by 0.3 percentage points to 2.1 percent in 2021 and by 0.7 percent to 1.9 percent in 2022. The 2022 forecast exceeds the latest European Central Bank projections of 1.7 percent and puts it just...

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