Global economy to plummet in 2020 due to coronavirus impact.
The world economy is facing challenges due to the impact of the coronavirus outbreak. Economic activities are being affected by measures to control the spread of the virus, leading to a decline in global growth. Production in China, where the virus originated, has sharply decreased. Asia and Europe are particularly affected, with disruptions in production and lower raw material prices. Global growth is expected to drop to 2.0 percent in 2020, the lowest since 2009. Even with optimistic assumptions, growth is forecasted to be slow. The risks of a prolonged downturn in global growth are high if the virus containment takes longer or if there are repeated outbreaks before effective treatments or vaccines are available.