#1. OECD: COVID-19 will cost global economy $7 trillion in lost GDP growth
According to the OECD’s chief economist Laurence Boone, the world will be much poorer by the end of 2021 than it would have been without coronavirus. That said and as per the OECD Interim Economic Outlook published this week, the economic prospects are not as bleak as previously thought. While much will depend on the impact of the potential second wave, the global output is expected to shrink 4.5% this year before returning to growth next year. For the Eurozone, the organisation forecasts a 7.9% decline for this year and a 5.1% growth next year while the US economy is expected to contract by 3.8% this year and rebound 4% in 2021.