Em in Ohio
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June 9, 1:13 p.m. (Posted on the AccuWeather Site)
The coronavirus caused a "swift and massive shock" that has triggered the most broad collapse of the global economy since 1870, the World Bank said Monday In its latest Global Economic Prospects report, the World Bank said the economy is expected to shrink by 5.2 percent this year which is the worst recession in 80 years, AFP reported. It is said that the crisis could put up to 100 million people into extreme poverty. Economists have had a difficult time measuring the impact caused by the coronavirus to the world economy because of the sheer size of the impact across many different industries. The worst-case scenario as a result from the global recession would be contraction of 8 percent."This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars and pose major global challenges," World Bank Group Vice President for Equitable Growth, Finance and Institutions, Ceyla Pazarbasioglu, told AFP.
The coronavirus caused a "swift and massive shock" that has triggered the most broad collapse of the global economy since 1870, the World Bank said Monday In its latest Global Economic Prospects report, the World Bank said the economy is expected to shrink by 5.2 percent this year which is the worst recession in 80 years, AFP reported. It is said that the crisis could put up to 100 million people into extreme poverty. Economists have had a difficult time measuring the impact caused by the coronavirus to the world economy because of the sheer size of the impact across many different industries. The worst-case scenario as a result from the global recession would be contraction of 8 percent."This is a deeply sobering outlook, with the crisis likely to leave long-lasting scars and pose major global challenges," World Bank Group Vice President for Equitable Growth, Finance and Institutions, Ceyla Pazarbasioglu, told AFP.