COVID-19 has affected communities on multiple continents, with over 3500 deaths out of over 105,000 reported cases.
There are three possible scenarios for COVID-19 and its economic impact, reads an article by the McKinsey&Company.
- Quick recovery scenario: Expected 2020 global GDP growth drops from 2.5% to ∼2.0%.
- Global slowdown scenario: The economy will recover in late Q2, but 2020 global GDP growth drops to ∼1.0-1.5%.
- Global pandemic scenario: This scenario results in recession, with global growth in 2020 falling to between -1.5% and +0.5%.
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Source: McKinsey&Company
