Global economy may not fully recover from Covid19 crisis by 2021: Gita Gopinath
Economy

Global economy may not fully recover from Covid19 crisis by 2021: Gita Gopinath

Agency News

Global economic activity, which has been hit by the coronavirus pandemic, may not fully recover even by the end of 2021, said Gita Gopinath, chief economist at the International Monetary Fund.

The fund this week downgraded its economic forecast. It now expects the global economy to shrink by 3% this year before growing 5.8% next year — a rebound that Gopinath described as a “partial recovery.”

“So even by the end of 2021, we’re expecting level of economic activity to be below what we had projected before the virus,” she told CNBC “Squawk Box Asia.”

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