World economy to contract at least 6% in 2020: OECD

AFP , Wednesday 10 Jun 2020

The global economy will contract at least six percent this year due to shutdowns to contain the coronavirus outbreak, the OECD projected Wednesday, warning that recovery will be "slow and uncertain".

In the case of a second wave of contagion later in the year, world economic output could shrink by as much as 7.6 percent in 2020, it said.

This would be followed in 2021 with GDP growth of between 2.8 and 5.2 percent.


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