The International Monetary Fund expects the pandemic will cause a global recession in 2020 that could be worse than the one triggered by the 2008 financial crisis. The depth of a recession, how long it will last and the nature of the recovery are a matter of debate. Economists say it will largely depend on how long the lockdowns last—around a quarter of all humanity is currently in lockdown—and how far government support goes in helping individuals, businesses and markets survive the crisis.
Oman Observer is now on the WhatsApp channel. Click here
