Thursday 9 July 2020
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Economic Review June 2020

Vol. 37 No. 06 Month Ended June 2020 The International Monetary Fund in June, further downgraded its global growth forecast for 2020 to -4.9 percent from the -3.0 percent projected in April. The revised growth reflects severely disrupted economic activity across the globe, following the lockdown and containment measures due to the COVID-19 pandemic in the first half of the year. Advanced economies are forecast to contract by 8.0 percent in 2020 with significant declines anticipated in major economies such as the United States (US), United Kingdom, Germany, France, Italy, Spain and Japan, while emerging market and developing economies are expected to contract by 3.0 percent. On a positive...

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