Now the agency predicts that due to the introduced locks to contain the outbreak of coronavirus this year, the global economy will shrink by 2.4%, while in the US and the eurozone it will fall by 5.2% and 7.3%, respectively.
Although the forecasts were not as impressive as the forecast of a 3% drop in the global economy from the International Monetary Fund (IMF) at the beginning of the week, S&P actions are likely to cause concern about a further decline in sovereign and corporate ratings.
“The flow of data reflecting the economic impact of containment measures against COVID-19 has been getting worse and worse,” a new report by leading S&P economists from the world and regional economies said.
“Now we are witnessing a fall in global GDP by 2.4% this year, and the US and Eurozone economies will decline by 5.2% and 7.3%, respectively. We expect that in 2021 global growth will recover to 5.9% “, they added.
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