Coronavirus outbreak plunging world economy into its worst downturn, says OECD

MG News | March 03, 2020 at 11:35 AM GMT+05:00

0:00

March 03, 2020 (MLN): The outbreak of Coronavirus is plunging the global economy into its worst downturn since the global financial crisis.

The Organization for Economic Cooperation and Development (OECD) cautioned today, urging governments and central banks to fight back to avoid an even steeper slump.

By updating its outlook, the OECD said that the global economy is set to grow only 2.4% this year which would be the lowest since 2009 and down from a forecast of 2.9% in November.

Earlier, it was projected the global economy could recover to 3.3% growth in 2021, assuming the epidemic peaked in China in the first quarter of this year and other outbreaks proved mild and contained.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	136,502.54 259.91M	1.64% 2202.77
ALLSHR	85,079.90 838.35M	1.26% 1061.74
KSE30	41,552.62 97.27M	1.81% 738.33
KMI30	193,330.76 84.69M	0.39% 741.60
KMIALLSHR	56,315.31 366.02M	0.43% 243.06
BKTi	38,498.08 37.91M	4.13% 1526.33
OGTi	28,138.38 5.66M	-0.36% -101.89

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	121,975.00	123,615.00 118,675.00	3445.00 2.91%
BRENT CRUDE	71.40	71.53 70.35	1.04 1.48%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.25 0.26%
ROTTERDAM COAL MONTHLY	108.75	0.00 0.00	0.05 0.05%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	69.51	69.65 68.41	1.06 1.55%
SUGAR #11 WORLD	16.56	16.67 16.49	-0.01 -0.06%