The DossierPlus analyses the economic downturn triggered by the COVID-19 outbreak and the current forecasts for the global economic recovery.
The current COVID-19 pandemic has not only had an immense impact on our social life but on the global economy as well. The latest forecasts predict a four-percent global GDP decrease for 2020 and a slow recovery – in which case the recession caused by this pandemic might be worse than the 2009 global recession.
Based on these forecasts, the world economy is expected to recover by 2021, but for some countries, including the United States, Germany, and Italy, recovery is predicted to take longer.