Key Points:

• Italy 2020 real GDP growth of -9.2%
• UK one of hardest hit advanced economies
• Argentina & Brazil GDP expectations worst in emerging economies
• Turkey unemployment rate to reach 16.0%
• Followed by Brazil in 2^nd place

Take a look at the Consensus Survey

The Covid-19 health pandemic has not only resulted in a widespread loss of life and severe human suffering, but also left the world in an extreme uncertain economic outlook.  For the first time since the Great Depression, most countries from both advanced and emerging economies will be in recession in 2020. The pandemic stresses the urgent need for health and economic policy action which include global support, to protect vulnerable populations, to reduce its consequences and to improve each countries’ capacity to prevent and cope with similar events in the future.

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