Paris, Mar 2: A global agency says the spreading new virus could make the world economy shrink this quarter, for the first time since the international financial crisis more than a decade ago.
The Organization for Economic Cooperation and Development says Monday in a special report on the impact of the virus that the world economy is still expected to grow overall this year and rebound next year.
But it lowered its forecasts for global growth in 2020 by half a percentage point, to 2.4 per cent, and said the figure could go as low as 1.5 per cent if the virus lasts long and spreads widely.
The last time world GDP shrank on a quarter-on-quarter basis was at the end of 2008, during the depths of the financial crisis. On a full-year basis, it last shrank in 2009.
The OECD said China's reduced production is hitting Asia particularly hard but also companies around the world that depend on its goods.
It urged governments to act fast to prevent contagion and restore consumer confidence.
The Paris-based OECD, which advises developed economies on policy, said the impact of this virus is much higher than past outbreaks because "the global economy has become substantially more interconnected, and China plays a far greater role in global output, trade, tourism and commodity markets."
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dear HINDU Brothers And Dear Muslim Brothers kindly Aware of Amit shah dont listen his anit religious speech , his main intention is to divide hindus and muslims in mangalore like gujrath please tiz is my request with mangalorean public
Attention Mangaloreans: Plz hoard essential foods items, Mr.Amit shah on his way to Mangalore to create fasaad.
shah need beef chilly so visitng mangalore
Phir se aaraha hai mangalore me aag lagana, bechare hindu bhaiyion ku bhadka kar hindu muslim ke naam par jhagda karane aaraha hai...... bachke rehna bhayiyon mama aaraha hai
Amit shah suffering from poll fever
BJP will win in karnataka this time.. We will work for that..
Shah always comes with a hidden agenda
Great... we are waiting for the arrival. We are so honoured to welcome you
Shah's previous visit was not so effective. may be the same aim this time also
Communal shah visiting Mangalore to divide mangaloreans.. protest
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