2020 OECD Economic Outlook, Volume 2020 Issue 2

image of OECD Economic Outlook, Volume 2020 Issue 2

The COVID-19 pandemic will cast a long shadow over the world’s economies and the economic outlook is very uncertain. This issue of the OECD Economic Outlook analyses the impacts of COVID-19 on the economy and puts forward projections for output, employment, prices, fiscal and current account balances.

This issue includes a general assessment of the macroeconomic situation, a series of notes on the current policy challenges related to the COVID-19 pandemic and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD members as well as for selected partner economies.

English Also available in: French, German


After suffering a sharp fall in activity during 2020, the economy is projected to recover in 2021 and expand at over 4% in 2022. Positive contributions to growth from the external sector mask domestic weaknesses, particularly in investment. Public support for employees and businesses is helping to hold up domestic demand while the authorities grapple with bringing the coronavirus under control. As recently imposed and possible future sanitary restrictions are lifted, with an effective vaccine being rolled out, and uncertainty about future trading relations is clarified, domestic demand is set to strengthen gradually.

English Also available in: French



This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error