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What is Economic Impact of COVID-19 Explained about?

This report analyzes the global economic impact of the COVID-19 pandemic across industries and 30 countries. It finds that GDP growth will decline significantly depending on the country and scenario, with a median decline of -2.8% globally. Service economies and those reliant on tourism will be most negatively affected. Each additional month of crisis is estimated to cost the global economy 2.5-3% of GDP. The economic effects are currently being underestimated due to reliance on comparisons to past crises.

Author

Nayan Nath

Language

EN