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Coronavirus plunges global economy into recession-National Bank of Canada

There is no doubt that the coronavirus impact in 2020 will have a lasting impact on the world economy. Economists at the National Bank of Canada expect global GDP to shrink by 4% in 2020.

"Social alienation measures, while necessary to limit infection and mortality, will also limit the expected rebound in growth in the second half of 2020 and next year."

"We expect real global GDP to contract by 4% this year, but this assumes that further downside risks will not occur."

"By 2021, some governments, especially those in developed economies, will withdraw some extraordinary fiscal stimulus measures implemented this year, which will further limit the extent of economic recovery."