Economics
Global Cost of Coronavirus May Reach $4.1 Trillion, ADB Says
- Asian Development Bank cuts regional growth forecast to 2.2%
- Supply-side disruptions could push cost higher: ADB economist
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The cost of the coronavirus pandemic could be as high as $4.1 trillion, or almost 5% of global gross domestic product, depending on the disease’s spread through Europe, the U.S. and other major economies, the Asian Development Bank said.
A shorter containment period could limit the damage to $2 trillion, or 2.3% of world output, the Manila-based lender said in its Asian Development Outlook report released Friday. Developing Asia, including China, accounts for as much as 36% of the pandemic’s total cost, it said.