The coronavirus pandemic will cost the global economy seven trillion dollars by the end of 2021, the chief economist of the Organization for Economic Cooperation and Development (OECD) Laurence Boone told Les Echos.
"The global economy is not going to recover quickly. We will have to live with the virus for many more months. This excludes the possibility of an early return to previous economic activity. This is a major shock, " Boone said.
She also added that if some countries stop budget support, this will further worsen the situation.
The OECD forecasts that global GDP will fall by 4.5% this year.
Earlier, Bloomberg reported that governments in developed countries invested trillions of dollars in support measures to return the economy to normal, as much as possible in the face of the pandemic. However, many concerns about the impending crisis remain relevant.
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Based on materials RIA Novosti