Is the Global Economy Set for a 2.6% Contraction in 2020?
May 14, 2020 at 10:00 AM EDT
As expected, the coronavirus pandemic will tamp down any positive growth expectations for the global economy. As such, the Korea Institute for International Economic Policy (KIEP) forecasted that the global economy will contract 2.6 percent in 2020, which represents a fall of 5.8 percentage points from the 3.2% growth forecast last November.