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110

countries will not be able to get back to the pre-crisis per capita income

The Centre for Business Tendencies Studies at the Institute for Statistical Studies and Economics of Knowledge presented a review of COVID crisis impact on the world economy based on the dynamics of new business indicators, the Global Economic Barometers.

The Global Economic Barometers reflect coincident and leading business trends across the globe in specific big regions and economy sectors. The Barometers have been calculated monthly since February 2020 by the KOF Swiss Economic Institute (KOF ETH Zurich) and Fundação Getúlio Vargas (FGV) based in Rio de Janeiro, Brazil.

The forecast says that from 2020 to 2025 the total losses of global production will amount to $22 trillion. By the end of 2022, per capita incomes will stay below the pre-crisis levels in about 110 countries: by 13% in developed countries, by 18% in low-income countries, and by 22% in evolving markets and developing countries (except for China).

Coincident and leading Global Economic Barometers
Author: Svetlana Saltanova, July 06