World Bank: COVID-19 recession is expected to be twice as bad as the 2009 financial crisis

Output from EMDEs is expected to contract in 2020 for the first time in at least 60 years. Image: REUTERS/Luc Gnago

Ayhan Kose

Director, Development Prospects Group

Naotaka Sugawara

Senior Economist, World Bank


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Global recessions compared. Image: World Bank
GDP contractions during major recession. Image: World Bank
Retail sales volume during global recessions. Image: World Bank
Oil consumption during global recessions. Image: World Bank
Image: World Bank

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COVID-19Economic ProgressGeo-economics


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