Corona-pandemic: A crisis like no other before

The world economy experienced the worst crisis since the great Depression. Because of the pandemic and the measures to curb the economy to shrink in 95 percent

Corona-pandemic: A crisis like no other before

The world economy experienced the worst crisis since the great Depression. Because of the pandemic and the measures to curb the economy to shrink in 95 percent of all the countries in output per head in this year. The public debt reached the highest level in relation to economic performance at all, since this indicator is measured. This is true for industrialised, Emerging and developing countries alike. This is summarized as the quintessence of the World Economic Outlook, the International monetary Fund now has presented.

Winand von Petersdorff-Campen

Economics correspondent in Washington.

F. A. Z.

The forecasts are subject to great uncertainty, as the Fund gives to. So it remains uncertain when and whether Inoculant or other treatments to curb the pandemic will be available and whether new infection press waves in the economic activity. The recent developments have prompted the Fund to revise its forecasts in April to below: The world economy is shrinking and is forecast this year to 4.9 percent. For the upcoming year, the Fund forecasts a growth of 5.4 percent.

However, the Fund is expected after two negative quarters in many countries, economic Expansion in the third quarter of this year. About 75 countries have eased economic restrictions and allow for new activities. However, the IMF expected-economists in General, a recovery that is not detect all the countries in the same way. Export-dependent countries can only expect a subdued growth. Countries that are heavily dependent on the hospitality and tourism, also suffer more. The Fund is registered but also that retail sales in countries that have loosened their restrictions, are clearly attracted.

Only China's economy grows

Relatively easy for Germany of which comes according to the calculations. The economy is collapsing, according to the IMF this year, year-on-year by 7.8 percent, to grow to 2021 and then to 5.4 per cent. Thus, the country is slightly better than the whole of the Euro Zone, whose economy is more than 10 percent weaker, if the IMF forecast is correct. Hard Italy, France and Spain, whose economies collapse economies in the year 2020 by more than 12 percent are met. The United States recorded a decrease of 8 percent this year and a return of 4.5 per cent in the coming year. China is the only major economy that is growing this year by approximately one percent.

Updated Date: 25 June 2020, 08:20

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