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COVID crisis causes 6.5 to 9.7% cumulative loss to global GDP: EAM

Video Credit: ANI - Duration: 02:36s - Published
COVID crisis causes 6.5 to 9.7% cumulative loss to global GDP: EAM

COVID crisis causes 6.5 to 9.7% cumulative loss to global GDP: EAM

External Affairs Minister (EAM), S Jaishankar addressed the 6th Roundtable of ASEAN-India Network of Think Tanks on August 20 via video conferencing.

He stated that the cumulative loss to global Gross Domestic Product (GDP) is approx 6.5 or 9.7% of global GDP from COVID crisis.

"Impact of COVID19 has been beyond our collective imagination.

Current estimates put cumulative loss in the range of $5.8 to $8.8 trillion or approx 6.5 to 9.7% of the global GDP.

The contraction of world economy being predicted will surely be largest since great depression," said S Jaishankar.

"World faces an unprecedented challenge.

None of us have seen a crisis of this proportion before.

Even after several months, the true extent of its destruction remains unclear," S Jaishankar added.


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