Tuesday, 19 May , 2020     |     1655      |      +      |     

Global recession likely due to COVID-19: WEF report

Global recession likely due to COVID-19: WEF report : gulftoday.ae
  • Coronavirus

Two-thirds of the 347 respondents to the survey — carried out in response to the outbreak — put a lengthy contraction in the global economy top of their list of concerns for the next 18 months. 70 cases of COVID-19 at French schools days after reopening

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Half of the risk managers expected bankruptcies and industry consolidation, the failure of industries to recover, and high levels of unemployment, particularly among the young.

“The crisis has devastated lives and livelihoods. It has triggered an economic crisis with far-reaching implications and revealed the inadequacies of the past,” said Saadia Zahidi, managing director of the World Economic Forum.

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Category: #Coronavirus | 2020/05/19 latest update at 6:06 PM
Source : gulftoday.ae | Photocredit : gulftoday.ae
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