Will the road to recovery lead to an economy that‘s revived or reimagined?

In the wake of COVID-19, governments and companies have an opportunity to plot greener, fairer and more sustainable days ahead.

In June, the World Bank forecast that global GDP would shrink by 5.2%¹ in 2020, with recessions in both advanced and emerging market economies. This would make the crisis following the pandemic the worst recession since the Great Depression and far worse than the Global Financial Crisis (GFC), which led to a 1.8% drop in global GDP in 2009. The impact on jobs has been dire: the International Labor Organization (ILO) estimates a decline in global working hours in the second quarter of 2020 of around 10.7% (equivalent to 305 million full-time jobs) relative to the last quarter of 2019². Young people are disproportionately affected, due to their concentration in informal employment and sectors most hit by the lockdown.

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Πηγή: ey.com

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