Global economy expected to expand by 4% in 2021: World Bank

As the COVID-19 vaccine started rolling out in many countries, the World Bank expects that the global economy will expand 4% in 2021, but will still remain more than 5% below its pre-pandemic trend. "The global economy appears to be emerging from one of its deepest recessions and beginning a subdued recovery," World Bank President David Malpass said in a forward to the Global Economic Prospects report.