The global economic crisis provoked by the coronavirus pandemic will still “declare itself”, and we need to be prepared for this. This was stated by the press Secretary of the President of Russia Dmitry Peskov on April 5.
“And, of course, we will need to coordinate actions and anti-crisis measures on the part of many States,” he said on the Rossiya 1 TV channel.
To prepare for the global economic crisis, there is “a lot of work” to be done, Peskov summed up.
On April 2, as a measure to combat coronavirus, President Vladimir Putin extended the period of non-working days until the end of the month.
Commenting on this decision, Peskov said that it will be “an extraordinary and huge burden” on the Russian economy, but the life and health of citizens is more important.
Many countries of the world took preventive measures against the background of the pandemic, which affected the economy. Thus, States have closed borders, stopped air traffic, and introduced self-isolation regimes. On April 4, the international monetary Fund (IMF) recorded a shutdown of the world economy, which happened for the first time in history. The organization claims that today the recession is worse than during the crisis of 2008-2009. In this regard, the IMF is ready to use its entire reserve of $1 trillion.
At the end of March, the us investment Bank JPMorgan reported that the global economy is in a state of recession, the depth of which may be unprecedented.
However, analysts suggest that the shock to global GDP, although extremely strong, will not last long. The condition for this is to resolve the situation with the coronavirus pandemic as soon as possible.
An outbreak of COVID-19 pneumonia caused by the SARS-CoV-2 virus occurred in Wuhan, China, in late December. Outside of China, the disease has been diagnosed in patients in more than 180 countries. On March 11, the world health organization (who) declared a coronavirus pandemic in the world. According to Worldometers, as of April 5, more than 1.2 million cases of the disease have been confirmed worldwide, and 65,000 people have died.