The coronavirus outbreak is the biggest threat to the global economy since the financial crisis and could halve growth in 2020, OECD warns
Claudio Furlan/Lapresse via Associated Press
Global growth is expected to fall as low as 1.5% this year, halving the OECD's previous 2020 projection from last November of 3%.The world economy is in its most "precarious position" since the 2008 financial crisis, the Organization of Economic Co-Operation and Development said in its"The global economy faces its biggest danger since the financial crisis. Containing the epidemic and protecting people is the priority," OECD warned.
"We have revised our projection for the year from an already low 3% in November to only 2.4%, lower than in any year since the financial crisis. In a downside-risk scenario where epidemics break out in some other countries across the globe, the slowdown will be sharper and more prolonged," Boone said. , killed at least 3,000, and spread to upwards of 60 countries.
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