The global lockdown to curb the spread of the coronavirus disease will lead to both economic activity and growth taking a beating.
According to the International Monetary Fund, the world has entered a period of recession. What will be the quantum of the impact?
Mint takes a look. How much will global GDP growth drop? Paolo Surico and Andrea Galeotti, economists at the London Business School (LBS), write in a report, The economics of a pandemic: the case of Covid-19, that if economic activities drop 50% for a month and 25% in the following two months, then world gross domestic product (GDP) could shrink by almost 10%.
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