COVID crisis causes 6.5 to 9.7% cumulative loss to global GDP: EAM

Video Credit: ANI
Published on August 20, 2020 - Duration: 02:36s

COVID crisis causes 6.5 to 9.7% cumulative loss to global GDP: EAM

External Affairs Minister (EAM), S Jaishankar addressed the 6th Roundtable of ASEAN-India Network of Think Tanks on August 20 via video conferencing.

He stated that the cumulative loss to global Gross Domestic Product (GDP) is approx 6.5 or 9.7% of global GDP from COVID crisis.

"Impact of COVID19 has been beyond our collective imagination.

Current estimates put cumulative loss in the range of $5.8 to $8.8 trillion or approx 6.5 to 9.7% of the global GDP.

The contraction of world economy being predicted will surely be largest since great depression," said S Jaishankar.

"World faces an unprecedented challenge.

None of us have seen a crisis of this proportion before.

Even after several months, the true extent of its destruction remains unclear," S Jaishankar added.


You are here


💡 newsR Knowledge: Other News Mentions

Subrahmanyam Jaishankar

External Affairs Minister of India, Former Indian diplomat
The center was jointly inaugurated by External Affairs minister Dr. S Jaishankar and Niger's President Mahamadou Issoufou in January last year.
Credit: DNA - Published 18 hours ago

External affairs minister S Jaishankar arrived in Seychelles after his two-day visit to UAE on November 25-26. It was the second leg of his six-day three-nation..
Credit: IndiaTimes - Published 21 hours ago

Noting that the experiences from the Covid-era hold lessons for both India and the United Arab Emirates, External Affairs Minister S Jaishankar has discussed..
Credit: IndiaTimes - Published 1 day ago



Coronavirus disease 2019

Disease caused by severe acute respiratory syndrome coronavirus 2
PM Modi will be proceeding to Bharat Biotech's facility located at Genome valley, a life sciences cluster about 20 km from the AF base, officials said. Covid-19..
Credit: IndiaTimes - Published 31 minutes ago

Prime Minister Narendra Modi on Saturday concluded his visit to Zydus Biotech Park in Ahmedabad after reviewing the development of Covid-19 vaccine candidate..
Credit: IndiaTimes - Published 2 hours ago


Related videos from verified sources

Out-of-work hotel porter now makes sculptures from ocean pollution to earn a living 04:29
Video credit: Newsflare - Published on August 26, 2020 

Coronavirus in numbers: UK deaths at 41,403 00:34
Video credit: PA - Press Association STUDIO - Published on August 20, 2020 

Coronavirus in numbers: UK deaths at 41,397 00:34
Video credit: PA - Press Association STUDIO - Published on August 19, 2020 

You might like