THE OCDE ABOUT CORONAVIRUS

The Organization for Economic Co-operation and Development (OCDE), presented its assessment of the current health crisis and proposed avenues for the rebound of the world economies.

Ahead of the virtual G20 summit held on Friday March 27, OCDE Secretary General Angel Gurría released the latest estimates of the economic impact of the Covid-19.

For the OECD, containment will directly affect sectors representing up to a third of GDP in the largest economies. Each month of confinement results in a loss of 2% in annual GDP growth.

The tourism sector alone is exposed to a drop in activity which amounts to 70%.

The fight against the pandemic is combined with enormous budgetary efforts made to restore normal economic activity as soon as possible.

Many economies are therefore headed for a recession.




Andrew Preston for DayNewsWorld