States will continue to lose money until 2025, the economist believes.
Mass vaccination against coronavirus in the world, which may not begin until mid-2021, will not help to quickly overcome the economic consequences of the pandemic. This opinion was expressed by economist Warwick McKibbin of the Brookings Institution and the Australian National University reports Bloomberg.
In this case, the expert estimated the loss of the world economy at $35 trillion until 2025.
According to McKibbin, now the situation is overshadowed by the continuing spread of the virus with outbreaks around the world.
вЂњA fairly large number of people need to be vaccinated before economic costs begin to fall,вЂќ he said.
Recall that earlier the international rating agency Fitch Ratings downgraded the outlook for world GDP due to COVID-19. However, Fitch predicts that the global economy will show signs of recovery already in the second half of 2020.