World GDP declined by 4%-5% in 2020
It is estimated that world GDP declined by 4%-5% in 2020 with disruption varying from country to country, continent to continent.
It is a crisis like no other we have witnessed. Policymakers have provided unprecedented support to households, firms, and financial markets.
While continued support is crucial for a strong recovery, doubts still exist about what the economic landscape will look like when we emerge from this lockdown.
From the great lockdown to the great rebound, PWC forecast that the world economy will likely pick up in the second half of 2021 rebounding by 4.2% with advanced economies growing 3.9%.
What do you think?
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