The losses of the world economy from the coronavirus pandemic range from $ 4 trillion to $ 10 trillion, said the head of the Accounts Chamber Alexei Kudrin. According to him, most of them will fall on regional budgets.
Mr. Kudrin made his statement addressing the participants of the third International Municipal Forum of the BRICS countries. “According to various estimates, the losses of the global economy from the pandemic range from $ 4 trillion to 10 trillion, and a significant part of these losses will fall on the budgets of regions and municipalities,” he said (quoted by TASS). The head of the Accounts Chamber also noted that the losses are not only financial: “The health care and social support systems have shown unpreparedness for global shocks.” According to him, now the task of state authorities is to develop mechanisms that will allow these systems to become more effective.
Earlier, the chief economist of the International Monetary Fund (IMF) Gita Gopinath said that the coronavirus pandemic could lead to a decrease in world GDP by another $ 5.3 trillion in the next five years – plus the losses that the IMF has already predicted.
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