The covid-19 crisis is affecting every inhabitant of and will affect all sectors of the economy. The virus shock will significantly drag down the economy, the decline in global activity, at least in the short term, will. Be more severe than during the financial crisis, and we, as a small, open economy, will feel such. Fluctuations painfully. Chief economist in, explains how this will affect the near future and what is. Happening in the long run. A global recession is expected, followed by a rapid recoverin developing the. Forecast scenario, we relied on the assumption that developments in western countries.
The Sick at Home or Being Ill Themselves
The economy will suffer the most in the second quarter the operation is hampered by virus control. Measures, disruptions in supply France Phone Number chains, and a drop in demand for the products or services offered. Some companies suffer immediately and severely, others after a while, and perhaps more easily, but some. Companies are experiencing rising demand. However, these beneficiaries will also have to reckon with the. Risks posed by the virus to the company’s operations – employees may not be able to perform their. Duties due to self-isolation, caring for children.
Growth in 2021 Could Be Very Rapid Around
In other words, the measures put in place by the governments will be effective, the virus will be halted in a. Few months’ time, and extensive support for businesses and citizens will also help alleviate the effects. Of the crisis and weather the recession. The hottest point of the crisis will be in the first half of this year: more in china in the first quarter and in the rest of the world in the second quarter. Overall, the global. Economy will shrink by around 2% in 2020, a deeper downturn than during the financial crisis. The measures announced by governments and central banks already far exceed those adopted during the. Financial crisis. This will ensure a speedy recovery of the world economy. We forecast that global growth in. 2021 could be very rapid around.