COVID crisis causes 6.5 to 9.7% cumulative loss to global GDP: EAM
Updated:5 years, 5 months ago
New Delhi, Aug 20 (ANI): External Affairs Minister (EAM), S Jaishankar addressed the 6th Roundtable of ASEAN-India Network of Think Tanks on August 20 via video conferencing. He stated that the cumulative loss to global Gross Domestic Product (GDP) is approx 6.5 or 9.7% of global GDP from COVID crisis. “Impact of COVID19 has been beyond our collective imagination. Current estimates put cumulative loss in the range of $5.8 to $8.8 trillion or approx 6.5 to 9.7% of the global GDP. The contraction of world economy being predicted will surely be largest since great depression,” said S Jaishankar. “World faces an unprecedented challenge. None of us have seen a crisis of this proportion before. Even after several months, the true extent of its destruction remains unclear,” S Jaishankar added.
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