A report by the UN Department of Economic and Social Affairs said there would likely only be a gradual recovery of lost output in 2021. In January, the department had projected world economy growth of between 1.8 to 2.5 percent this year. "The world economy is expected to lose nearly $8.5 trillion in output in 2020 and 2021, nearly wiping out the cumulative output gains of the previous four years," the report released on Wednesday said. The UN report said the pandemic showed how economic and public health "are inextricably linked and mutually reinforcing." The report also warned that the massive loss of employment and income due to the pandemic will exacerbate global poverty.

Source: bd News24 May 13, 2020 16:30 UTC