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Coronavirus ‘grim reality’: World economy to shrink by 3.2 per cent, new UN report projects

Coronavirus ‘grim reality’: World economy to shrink by 3.2 per cent, new UN report projects

May 14, 2020, at 03:49 pm

New York/IBNS: Against the backdrop of the raging COVID-19 pandemic, the world economy in 2020 is projected to shrink by 3.2 per cent, racking up some $8.5 trillion in overall losses – wiping out nearly four years of output gains, according to a mid-year economic analysis by the United Nations.