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RSS FeedsCOVID-19 infection: Global economy could see $5 trillion wipeout
(WorldNews Business)

 
 

9 april 2020 11:03:29

 
COVID-19 infection: Global economy could see $5 trillion wipeout
(WorldNews Business)
 


New York: The coronavirus pandemic is set to rob the global economy of more than $5 trillion of growth over the next two years, greater than the annual output of Japan. Thatīs the warning from Wall Street banks as the world plunges into its deepest peace-time recession since the 1930s, after the virus forced governments to demand that businesses close and people stay home. Although the downturn is predicted to be short-lived, itīll take time for economies to make up the lost ground. Even with unprecedented levels of monetary and fiscal stimulus, gross domestic product is unlikely to return to its pre-crisis trend until at least 2022. Thatīs a similar timescale to the aftermath of the global...


 
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