For the first time in 60 years, economic development in emerging and developing countries will decline for the first time. Per capita income will fall by 3.6%, and millions will be extremely poor by 2020.
The pandemic of coronavirus and suspension of economic activity has affected the world economy. This really is the worst recession since World War II, with per capita manufacturing falling in most states since 1870.
Potential to consider introducing additional stimulus measures if the transparency. It follows that policymakers might need to prepare additional policies to encourage economic activity. Contemplate multiple choice scenarios, as doubt in short-term growth projections is much higher than lately. Oil prices fell due to the unprecedented decline in demand.
We must respond to financial catastrophe and health. International cooperation strengthens responsiveness, protect vulnerable groups, and to mitigate impacts is one of those policy steps.
Michael is the Reporter working for Mandir IP KV. He loves to learn about everything new in our Economical World and share it with everyone.