the Organization for economic cooperation and development (OECD) estimated the impact of coronavirus COVID-19 on the world economy 0.5 - 1.5 percentage points (PP) of global GDP, depending on the duration of the pandemic. The OECD lowered its forecast for global growth in 2020 to 2.4%. The analysts noted that in the case of protracted epidemics, global GDP growth will slow to 1.4%. If the spread of the coronavirus is promptly stopped, it will be possible to expect growth of global GDP to 3.3 percent in 2021.
the OECD said that growth prospects for the world economy remains "highly uncertain".
Expected GDP growth in China, where it was first recorded outbreak of coronavirus, reduced by 0.8 percentage points to 4.9%. The OECD notes that the epidemic in China broke the supply chain and had a negative impact on tourism and the financial sector of all G20 countries, especially Japan, Korea and Australia, have strong economic ties with the country.
"the Government must act quickly and decisively to overcome the coronavirus and its economic consequences," the report said.
Flash coronavirus COVID-19 began in China at the end of December 2019. To date, the cases of infection recorded in more than 30 countries.
