Vaccines, US stimulus boost global GDP forecast: OECD

12 Sept 02:21 Key points summarised by AI

The OECD sharply increased its 2021 global GDP growth forecast to 5.6%, a 1.4 percentage point rise, citing effective vaccine deployment and significant fiscal support.
The global recovery is primarily driven by the United States, with President Joe Biden's $1.9 trillion stimulus package propelling the US economy to an anticipated 6.5% growth.
Despite improved prospects, the OECD notes increasing divergence between countries based on vaccination speed, with nations like the UK seeing higher revisions while the Eurozone's slower vaccine rollout limits its forecast bump.
Global output could surpass pre-pandemic levels by mid-2021, but significant risks remain, particularly concerning the pace of worldwide vaccination efforts.
The OECD stresses that rapid and equitable global vaccine deployment is the top policy priority, urging advanced nations to support lower-income countries to ensure a faster and stronger economic recovery for all.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.