This was highlighted by ADB last Friday, indicating that Covid-19 could reduce global GDP by 0.1-0.4%, with financial losses forecast to reach between US%77bil and US$34bil.
“This requires the use of multiple scenarios to provide a clearer picture of potential losses. We hope this analysis can support governments as they prepare clear and decisive responses to mitigate the human and economic impacts of this outbreak.” A moderate case scenario is where precautionary behaviours and restrictions such as travel bans start easing three months after they were imposed in late January.For economies imposing travel bans, there are no tourism receipts from the PRC for six months.
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