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The Asian Bank assessed global economic damage from COVID-19

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The Asian Bank assessed global economic damage from COVID-19
May 15
09:00 2020

Today, the most authoritative Asian Development Bank (ADB) has released an analysis on the cost of the global coronavirus pandemic on the world economy. So, the experts have calculated that the loss of the global economy would amount to $ 8.8 trillion under a pessimistic scenario, and $ 5.8 trillion under an optimistic scenario.

The ADB has already released analytics with the amount of potential damage. The current forecast is twice the previous one. Unfortunately, many countries continue to struggle with COVID-19, which negatively affects their economic development.

The economists at the Asian Development Bank have taken two scenarios as a basis. If the scenario is negative, quarantine measures will continue for about six months, in case of positive development of events – half as much time. In the first case, the losses will amount to about 8.8 trillion US dollars, if the second scenario is realized, then the damage will be equal to 5.8 trillion US dollars.

At the moment, about 4.5 million people with coronavirus have been recorded in the world. About 300 thousand people died, 1.7 million people were cured.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

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