Analysts at Oxford Economics have named the approximate time to start lifting restrictions around the world due to the coronavirus. The results of the study are reported by RIA Novosti.

According to the company, after reports on the effectiveness of the vaccine from the German pharmaceutical company BioNTech and its American partner Pfizer, some economists rushed to update their GDP forecasts for next year. “While this event undoubtedly marks a big step forward, at this point we are skeptical that this will significantly increase our forecast,” – said in the message.

According to experts, the sustainable lifting of restrictions will begin no earlier than mid-2021. They pointed out that economic growth will depend on vaccination and immunization of the population, a process that will take many months.

Earlier, the head of the Swiss investment bank UBS, Axel Weber, warned the world economy against illusions about a quick recovery from the consequences of the coronavirus pandemic and the crisis caused by it. According to him, the return to the pre-crisis level of GDP – both at the global level and for individual countries – will take at least a year. Recovery of the previous growth rates and reduction of unemployment may take about two years.

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