Economic Review July 2020
(WorldNews Denmark)

Vol. 37 No. 07 Global economic activity continues to be impeded by containment measures to the COVID-19 pandemic, which has now infected more than 17.0 million people worldwide. According to various international agencies1, this year, the world economy will shrink at the sharpest rate in decades, as measures taken to contain the pandemic have severely restrained private consumption, investment, trade and travel. On a positive note, the COVID-19 vaccine is now in Phase 3 of testing2 and several countries3 have started to slowly lift lockdown restrictions. Overall, according to the IMF, the world economy is expected to rebound by 5.4 percent in 2021, following a 4.9 percent contraction this...