Growth in the global economy is expected to reach its highest level since the 1970s, according to the Russian president. In April, the International Monetary Fund said the global economy would grow by 6% in 2021. The previous forecast was raised by 0.5% due to the widespread rollout of vaccines against the coronavirus.

According to Putin, the substantial growth is also being triggered by the extraordinary measures taken by the governments across the world.

At the same time, the Russian president warned that the recovery of the global economy was likely to be uneven, as developed nations have more resources and better access to vaccines than the rest of the world.

“This spawns serious political, economic, and social risks for both the developing and developed countries, as well as for overall global security,” Putin said.