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

New Zealand

After a rebound in the second half of 2020 from the COVID-19 slump, economic growth in 2021 will average around 2¾ per cent, with rising unemployment weighing on private consumption and high uncertainty holding back business investment. Assuming that the border re-opens at the beginning of 2022 after a rollout of an effective vaccine around the world, tourism and immigration will drive further the recovery, with economic growth in 2022 of just over 2½ per cent. Until immunisation is attained, the recovery may be interrupted by intermittent localised COVID-19 outbreaks and associated containment measures.

English Also available in: French



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