Stimulus Package

UN foresees global economy to contract 0.9% in 2020

The global economy could shrink 0.9% this year due to the coronavirus pandemic, the U.N. Department of Economic and Social Affairs (U.N. DESA) said on April 1. 

The world output could contract further if imposed restrictions on economic activities extend to the third quarter, and fiscal responses fail to support income and consumer spending, the U.N. body said.