In its new World Economic Outlook, the World Bank forecasts that global average economic growth will reach a positive 4% this year. According to it, the corona outbreak and the delay in vaccine development caused the global economy to shrink by an average of 4.3 percent last year. According to the agency, the corona epidemic's negative consequences on the global economy will continue for years. If the quarantine resumes widely around the world following the new mutations of the coronavirus, the situation should be expected to worsen.
The World Bank has warned of a significant increase in poverty, citing a 90 percent drop in per capita income in some less-developed countries, adding that this could lead to poverty traps in some countries.
The following is the economic situation of the selected countries:
1- America
Estimated economic growth in 2020: negative 3.6 percent
Projected economic growth this year: 3.5%
2- Eurozone
Estimated economic growth in 2020: negative 7.4 percent
Projected economic growth this year: 3.6 percent
3- Japan
Estimated economic growth in 2020: Negative 5.3%
Projected economic growth this year: 2.5%
4- China
Estimated economic growth in 2020: Positive 2%
Projected economic growth this year: 7.9%
5- Armenia
Estimated economic growth in 2020: negative 8%
Projected economic growth this year: 3.1 percent
6- Republic of Azerbaijan
Estimated economic growth in 2020: negative 5%
Projected economic growth this year: 1.9 percent
7- Russia
Estimated economic growth in 2020: negative 4%
Projected economic growth this year: 2.6 percent
8- Turkey
Estimated economic growth in 2020: Positive 0.5%
Projected economic growth this year: 4.5%
9- Saudi Arabia
Estimated economic growth in 2020: Negative 5.4%
Projected economic growth this year: 2 percent
10. UAE
Estimated economic growth in 2020: Negative 6.3%
Projected economic growth this year: 1 percent
11. Afghanistan
Estimated economic growth in 2020: Negative 5.5 percent
Projected economic growth this year: 2.5%
12- Pakistan
Estimated economic growth in 2020: Negative 1.5 percent
Projected economic growth this year: 0.5%
13- Brazil
Estimated economic growth in 2020: Negative 4.5 percent
Projected economic growth this year: 3 percent