OECD: UK economy will grow faster than the EU in 2021 and 2022 The Organisation for Economic Co-operation and Development (OECD) has predicted the UK economy will grow at a faster rate than the EU's over the next two years. It expects the UK economy will grow by 6.9% in 2021 and then 4.7% in 2022, while across the eurozone, it expects growth of 5.2% in 2021 and 4.3% next year. The OECD forecast suggests the UK will outpace the growth of other G7 nations this year and next. While its forecast for 6.9% growth this year is an upgrade on the 6.7% it forecast in September, the projection for 2022 is down from a previous estimate of 5.2%. The OECD lowered its global growth outlook to 5.6% for 2021, with this down from 5.7%, while it kept its 2020 estimate unchanged at 4.5%. Presenting the report, OECD chief economist Laurence Boone warned that the Omicron strain of Covid “is further adding to the already high levels of uncertainty and risks, and that could be a threat to the recovery.” Focusing on the UK, he also warned that a “prolonged period of acute supply and labour shortages could slow down the recovery.”