World Economy: What Does the Road to Recovery from COVID-19 Look Like? Expert Survey on Worldwide Effects of the Pandemic

Dorine Boumans, Pauliina Sandqvist and Stefan Sauer

No 26, EconPol Policy Reports from ifo Institute - Leibniz Institute for Economic Research at the University of Munich

Abstract: The outbreak of COVID-19 has had a detrimental effect on global health care systems, with a ripple effect on every aspect of human life as we know it. On January 30, 2020 the World Health Organisation declared COVID-19 as a global emergency (WHO, 2020). In response, to “flatten the curve”, governments have enforced border shutdowns, travel restrictions, and general lockdowns with numerous social distancing measures such as closed schools, shops, services and, to a lesser extent, the manufacturing industry. This in turn led to an impending economic crisis and recession all around the globe. The IMF World Economic Outlook of June 2020 projects global growth at -4.9 percent in 2020 (IMF, 2020a).

Date: 2020
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