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UN forecasts pandemic to shrink world economy by 3.2% this year

The United Nations forecast on Wednesday estimated that the COVID-19 pandemic will shrink the world economy by 3.2% this year.

The UN forecast also announced that this will be the sharpest contraction since the Great Depression in the 1930s.

The U.N.’s report said the impact of the coronavirus crisis is expected to slash global economic output by nearly $8.5 trillion over the next two years.

 

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