WB: economy will recover from consequences pandemics 5 years
The world economy will recover from the spread coronavirus for 5 years, said the Vice-President of the World Bank. Carmen Reinhart Bank. Despite the fact that GDP growth rates may be pretty quick after the quarantine measures, complete recovery will take more time. It won't flow evenly, Reinhart thinks - in some cases, the recovery will take more time. The crisis will last longer than in other countries. In developed countries the greatest damage will be incurred by the low-income category of citizens like this, the situation will develop on the national scale as well. - poor countries will be hardest hit by the crisis. A fall in the economy will trigger an increase in poverty rates, which is not the case in the United States has been going on for 20 years, says the WB vice president. The pandemic has led to the exit of many companies from the market, significant decrease in the number of visitors in shopping centers, loss of visitors people of work. Financial support provided by central banks, is unable to fully neutralize the negative consequences, said Reinhart.