COVID-19 pandemic will cost global economy $12trln – ZAWYA

COVID-19 pandemic will cost global economy $12trln – ZAWYA

COVID-19 pandemic will cost global economy $12trln COVID-19 pandemic will cost global economy $12trln | ZAWYA MENA Edition HomeEconomyGlobalArticleCOVID-19 pandemic will cost global economy $12trln The Middle East and Central Asia will slow by 4.7%    Digital generated image of financial line charts falling down because of coronavirus COVID-19 on blue background. Image used for illustrative purpose.DUBAI: The COVID-19 pandemic will have cost the global economy $12 trillion by the end of next year, the International Monetary Fund predicted on Wednesday.The pandemic was "a crisis like no other,“ the contraction in the global economy would be significantly worse than it previously thought, and recovery was "uncertain,“ the IMF said in a gloomy update to its World Economic Outlook.Global gross domestic product is expected to fall by 4.9 per cent this year in what the Fund called "The Great Lockdown.“The pandemic was "a crisis like no other,“ the contraction in the global economy would be significantly worse than it previously thought, and recovery was "uncertain,“ the IMF said in a gloomy update to its World Economic Outlook.DUBAI: The COVID-19 pandemic will have cost the global economy $12 trillion by the end of next year, the International Monetary Fund predicted on Wednesday.Global