Global economy to lose $3 trln due to coronavirus

The global economy is facing another Great Depression, the biggest crisis since the 1930s, Wall Street analysts say.

According to economists, global GDP will not be able to recover until 2020, Bloomberg reports. The unavoidable economic slump will be short but deep.

Experts at Morgan Stanley believe that the developed countries will be able to restore their GDP only in the third quarter of 2021. Experts at the Institute of International Finance say that in 2019, the world debt grew by $10 trln and reached 322% of global GDP. Global trade may fall by 30% this year.

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