The Organisation for Economic Co-operation and Development has raised its 2021 global GDP growth forecast but warned that "too many headwinds persist" as not enough Covid vaccines are reaching emerging economies, making the world vulnerable to variants.

The world economy will expand by 5.8 percent this year, up from a previous estimate of 5.6 percent, the Paris-based Organisation for Economic Co-operation and Development said in a report.

In a report, OECD chief Laurence Boone said, it is with some relief that we can see the economic outlook brightening, but with some discomfort that it is doing so in a very uneven way.

The 38-nation organisation, whose members account for 60 percent of global gross domestic product, applauded the rapid reaction of governments to prop up the economy.