Global economy to contract 4.3% in 2020; Output worth USD 6 Trillion to be wiped out: Report
Image Credit: shortpedia
The global economy is expected to contract by 4.3% this year, hit hard by the coronavirus pandemic, which will wipe out global output worth over USD 6 trillion, a UN report said on Tuesday. Output in India is expected to shrink by 5.9% in 2020, before rebounding to 3.9% the next year, it added. The global economy had entered dangerous waters by late 2019 and the growth was slowing across all regions.