The OECD Does Not Expect To Start Widespread Vaccination Against Covid Until The End Of 2021
The Organization for Economic Co-operation and Development (OECD) does not expect widespread vaccination against COVID-19 to start before the end of 2021, according to the organization's autumn economic report.
At the same time, the OECD expects episodic local outbreaks of COVID-19 in the world, which will be dealt with by targeted measures rather than national "lockdowns."
"Forecasts suggest that episodic local outbreaks will continue, and they will be dealt with through targeted measures at the local level, rather than through restrictions at the national level; it is assumed that broad vaccination will not be available until the end of 2021," the report says.
If the threat from COVID-19 fades more quickly than expected, improved business and consumer confidence could boost global activity sharply in 2021. But a stronger resurgence of the virus, or more stringent lockdowns could cut 2-3 percentage points from global growth in 2021, with even higher unemployment and a prolonged period of weak investment.