Experts estimated the damage to the global economy due to coronavirus

News

Experts estimated the damage to the global economy due to coronavirus

08.09.2020 News

Experts predict the collapse of the economy if states do not continue the policy of fiscal support for business. Information was reported by the American publication of Bloomberg.

The main problem today – is a continuation of the spread of the virus that outbreaks around the world.

Even when the vaccine is developed, its use will take some time, according to the professor at the Australian National University. His research shows that the virus could cost to the world economy about $ 35 trillion by 2025.

The publication notes that the coming winter may provoke another wave of the virus, as we are still waiting for the vaccine. State support for employees and the bank moratorium on loan repayment are coming to the end. A tension between the US and China could escalate ahead of presidential elections in November and undermine confidence in the business.

“We have seen the peak of economic decline in May. Today such momentum is fading a bit. ” – said Joachim Fels, advisor of a global economy at Pacific Investment Management Co.

Experts say that to keep the rate of growth on all fronts will be difficult.

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