International News

In 2020 The Gobal Economy Will Shrink By 4.4%

Author : Bozhou Marine

Update time : 2020-10-09 10:26:12

The German think tank Iver Economic Research Institute and the European Economic and Fiscal Policy Research Center released a survey report on the 7th. It is estimated that the global economy will shrink by 4.4% this year, and only China will achieve positive economic growth among the major economies.

The survey was jointly conducted by the German Iver Institute for Economic Research and the European Economic and Fiscal Policy Research Center. It was launched from August 12 to 29 this year. The survey subjects were 950 economists from 110 countries and regions.

According to the report, more than one-third of the interviewed experts predict that the global economy will not return to the level before the new crown epidemic until 2022. Nearly 20% of experts predict that the global economy will fully recover by 2023. Nearly a quarter of the interviewed experts are relatively optimistic and expect the global economy to fully recover as early as 2021.

The report said that among the world's major economies, only China is expected to achieve a positive growth of 2.3% this year. The US and EU economies are expected to shrink by 6.5% and 8.4% respectively this year.

The report also shows that experts from developed economies such as the European Union, the United States, Japan, and Canada believe that the most effective economic policy measure to deal with the epidemic crisis is to provide liquidity support for small and medium-sized enterprises. Experts in emerging and developing countries tend to improve the healthcare system as a "priority option."

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