Global growth rates are expected to be dramatically low and the world economy is on the verge of a recession. Given this context, the Economic and Social Commission for Western Asia (ESCWA) has made an initial assessment of the cost of Corona in the Arab region.
As per an initial estimate of the impact of the Corona pandemic in 2020, the region would lose at least $42 billion. As the virus contagion spreads to the European Union (EU), the United States of America (USA) and major economies, and with the compounding effect of low oil prices, the losses in income could escalate.
To read the report: click here
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