The overarching challenge of COVID-19 is expected to impair the growth rates in almost all economies over the medium-term. The average OECD growth rate will stand at 0.7% p.a. in the period from 2019 to 2025, compared to the pre-COVID-19 projected growth level of 2.1%p.a.

For non-OECD countries, GDP is expected to grow by 3.4% p.a. on average during the same period, which is more than 1 percentage point lower compared to past projections.

2020 World Oil Outlook 2045 | Devamı>>>

The COVID-19 pandemic has created what can be termed a critical juncture from the perspective of the low-carbon transition. 1 Nations have the opportunity to use their economic recovery plans to accelerate this transition. Whilst some countries, generally the more developed economies, are putting
forward green recovery plans, governments of many lower income countries are more concerned about short-term issues such as employment and livelihoods. As an upper-middle-income country, China might be expected to build on its recent successes and accelerate the pace of its low-carbon energy
transition.

Does 2020 Mark a Critical Juncture in China’s Low-Carbon Energy Transition? | Devamı>>>