RIO DE JANEIRO, BRAZIL – The Washington DC-based International Financial Institution (IIF) has lowered its global Gross Domestic Product (GDP) projection and forecast a contraction of 2.8 percent by 2020, which means that “the shock caused by Covid-19 will sharper than during the 2008 financial crisis.
In a report released on Thursday, April 9, the agency also predicted that the Brazilian economy, “not yet fully recovering from the 2015 recession,” would contract 4.1 percent this year.
According to the document, China’s growth must slow down 2.1 percent by 2020.
The Institute also predicts a sharp withdrawal. . .
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