A 5.5 percent increase in global gross domestic product is predicted for this year, despite a resurgence in COVID-19 cases
Export Development Canada is forecasting another strong year of global economic growth in 2022.
It predicts a 5.5 percent increase in global gross domestic product, down slightly from six percent in 2021.
That is despite the Omicron-related resurgence in the COVID-19 pandemic.
“The trajectory of the global economy seems to have decoupled from the trajectory of the virus,” Stuart Bergman, the EDC’s deputy chief economist, said in a recent webinar.
Policy makers are shifting their attention to managing rates of hospitalization and mortality versus managing rates of infection, and that is allowing businesses to better function.
“The world economy is hot. That’s not changing. There is no denying that if you look at the data,” he said.
Agriculture is one of the sectors leading the charge.