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World Bank Says COVID-19 Marks Worst Recession Since WWII
Summary: The World Bank released its latest Global Economic Prospects, which regards COVID-19 as the deepest global recession since WWII, as the baseline forecast is a 5.2 contraction in global GDP in 2020.
The World Bank released on Monday its latest Global Economic Prospects, which regards COVID-19 as the deepest global recession since WWII, as the baseline forecast is a 5.2 contraction in global GDP in 2020.
The report says the pandemic has caused the deepest global recession in 80 years and may further deteriorate if controlling the pandemic takes a longer time than current expectations. The report calls for health and economic policy actions to protect the vulnerable, mitigate the impacts of the pandemic, and coordinate with future incidents.
By Dawn Wu
Tags: COVID-19,World bank
Link: World Bank Says COVID-19 Marks Worst Recession Since WWII [Copy]
