Economics
Pandemic May Push 130 Million People to Extreme Poverty, UN Says
- Virus outbreak will cut $8.5 trillion from global economy: UN
- Report forecasts 3.2% reduction in global GDP this year
An ambulance transports medical workers while responding to an emergency scene in the Paraisópolis favela of Sao Paulo, Brazil, on April 15.
Photographer: Rodrigo Capote/BloombergThis article is for subscribers only.
The Covid-19 pandemic is projected to remove four years of growth from the global economy -- or almost $8.5 trillion in total output -- according to a new United Nations study.
A 3.2% reduction in global GDP is forecast this year, according to the United Nations World Economic Situation and Prospects report released on Wednesday. The projections follow the IMF World Economic Outlook report in April, which anticipated a 3% decline this year.