A recent report shows that the global economy is expected to grow by around 5.6% in 2021, rebounding from a 3.5% contraction in the previous year due to the COVID-19 pandemic. The recovery is largely being driven by strong growth in advanced economies, with the United States leading the way with a projected growth rate of 6.9%. Emerging market and developing economies are also expected to see growth of around 6% this year, led by China with an expected growth rate of 8.5%. However, the report also highlights the uneven distribution of the recovery, with low-income countries falling behind due to limited access to vaccines and fiscal support. Inflation rates are also expected to rise in many countries due to supply chain disruptions and higher commodity prices. Global trade is projected to grow by 9.5% this year, with merchandise trade volumes expected to increase by 8.4%. However, uncertainties remain, including the ongoing pandemic, geopolitical tensions, and financial vulnerabilities in some countries. Overall, while the global economy is showing signs of recovery, challenges persist in ensuring a sustainable and inclusive recovery for all countries.