The World Bank expects global GDP to decline 5.2 percent this year

By: Trademagazin editor Date: 2020. 06. 08. 11:08

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The World Bank expects the global economy to shrink by 5.2 percent this year, the biggest decline since World War II.

The World Bank’s half-yearly Global Economic Outlook report, released on Monday, says, among other things, that the coronavirus has pushed the global economy into a severe recession. According to the Washington-based organization, the GDP of developed countries could fall by 7 percent in 2020, while that of developing countries will shrink for the first time in 60 years, shrinking by 2.5 percent. ((MTI / Reuters / Tass))