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29.04 - 21:03
What is the economic cost of an extended covid-19 lockdown?
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With Indians having to stay at home until 3 May to flatten the covid-19 infection, the economic cost of this social distancing continues to surge.
The fact that a lockdown curtails economic activity is evident, which means the longer the lockdown, the greater the economic cost.
But some economists now believe that the per week cost of a lockdown is higher than what they had previously estimated. Economists at Barclays Research said in a 14 April note that the loss of output due to shuttered factories and closed offices works out to about $26 billion per week.
This is far higher than the $16.6 billion it had estimated on 24 March, when the lockdown was first announced. As a result, they now expect the overall hit on the economy to be $234.4
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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