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Global Economic Prospects

  • Category
    Miscellaneous
  • Published
    9th Jun, 2020

The World Bank has released the Global Economic Prospects June 2020 Report.

  • The World Bank has released the Global Economic Prospects June 2020 Report.

What is Global Economic Prospects (GEP)?

 

  • The World Bank produces the GEP twice a year, in January and June, as part of its in-depth analysis of key global macroeconomic developments and their impact on member countries.
  • The GEP provides intelligence in support of achieving development goals and is a trusted resource for member countries, stakeholders, civil organizations and researchers.

Key-highlights

  • Global economic growth is forecast to edge up to 2.5% in 2020 as investment and trade gradually recover from last year’s significant weakness but downward risks persist.
  • Sixty million people could be pushed into extreme poverty this year.
  • Longer term, there is a risk not just of a drop in the level of output but a lowering of potential output growth.
  • The severity of the current recession has been unseen in eight decades.
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