PARIS: The world economy woke up from its pandemic-induced coma in 2021, but between the Omicron variant causing renewed disruptions and persistent inflation pushing central banks to pump the brakes, the outlook is uncertain. The United States has overcome its worst downturn since the Great Depression while the eurozone's economy could return to pre-pandemic levels by the end of the year. But the rapid spread of the Omicron variant has prompted many countries to reimpose restrictions that are likely to hurt the travel and leisure sectors first and foremost. With a single-digit vaccination rate, the economy of sub-Saharan Africa will grow at a slower click, according to the International Monetary Fund. China, the world's second-biggest economy and a driver of global growth, is facing a slew of risks: new coronavirus cases, an energy crunch and fears over the debt crisis at real estate giant Evergrande.

Source: Manila Times December 28, 2021 22:06 UTC