Short-term damage from the coronavirus to the global economy estimated at $280 billion

Direct economic losses for China and other countries in the first quarter of 2020 could be more than 280 billion dollars.

that assessment was made by the British consultancy Capital Economics, noting that in such a scenario in the world economy for the first time since 2009 will be marked by GDP growth in quarterly terms.

In its short-term effect experts, thus, compared the outbreak of the coronavirus in China, with the ensuing limitations in transport, tourism and other fields from the global recession that occurred in the aftermath of the global financial crisis in 2008.

Economist at Capital Economics Simon McAdam said that the company’s valuation made on the basis of the assumption that the spread of the virus will soon be able to stop and economic losses will be partially offset due to higher growth in subsequent quarters 2020 In such a scenario, according to the expert, coronavirus “will only delay the growth of the world economy, but will not cancel it.”

a More accurate assessment of the alleged damage from the slowdown in China and other countries due to the outbreak of coronavirus nCov-2019, likely to follow in early March of this year – including, after the trade data of China for January and February 2020, the Chinese Authorities on 7 February announced the decision to cancel the publication of trade statistics in January, promising to publish aggregate data for the first two months of the year.