What Expects the Global Economy and GDP in 2020?
S & P Global Ratings reported a decrease in its forecast for GDP growth rates in 2020 due to the outbreak of the coronavirus pandemic and suggests that global GDP growth will not exceed 1-1.5%. If at the end of last year the agency predicted 3.3% growth in world GDP, then already in early March the forecasted figure was reduced by 0.5 percentage points. Then, after the March 11 announcement by the World Health Organization that the spread of COVID-19 had taken on the character of the S & P pandemic, S & P lowered its forecast to 1-1.5%.
Despite the fact that in Asia, where the spread of coronavirus began, the situation began to stabilize, in the USA and Europe the spread of the virus is in full swing, and quarantine restrictions on the movement and contacts of people will not allow markets to show good momentum. In fact, a twice lower percentage of global GDP growth means a serious global recession.