Forecast: Global GDP to fall from 6% to 15% in 2020


April 28, Fineko/abc.az. The Azerbaijan Insurance Agency (ASA) has published the forecast on the impact of the pandemic on the world economy and the insurance sector.

ABC.AZ reports that in the ASA’s forecasts the COVID-19 pandemic also had negative impact on the country's economy.

According to the ASA forecast, the global economy was most affected by the activities of people who are afraid of coronavirus, than the situation and the number of events that occurred.

"According to general estimates, the world's GDP is projected to decline from 6% to 15% in 2020. The ongoing quarantine situation means the loss of a quarter of the country's economy. The epidemic has had the most negative impact on the tourism sector and the hotel business, with losses in these areas at the level of almost 90% or even 100%."