12:06 - 31.03.2020

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March 31, Fineko/abc.az. According to McKenzie's calculations, the economic downturn will be 4.7% in the world this year, 9.7% in the euro zone, 2.7% in China and 8.4% in the U.S.

ABC.AZ reports that the above-said statement was made by Vusal Gasimli, the executive director of the Center for Analysis of Economic Reforms & Communications.

He noted that the world economy is currently "frozen", supply and demand are simultaneously declining, unemployment is rising, the pandemic is threatening the humanity, and prices for stocks and commodity markets, in particular for oil, are falling.

According to Gasimli, the world economy can reach the pre-crisis limit in the 3rd quarter of 2022 in the best case: "In short, according to Nassim Taleb’s theory "black swan", no one could predict the coronavirus crisis three months before, but in a short time the world has entered the most severe crisis of the 21st century. On the way to the culmination of its economic growth, the trend of which began in 2017, Azerbaijan faced a global shock.

The Azerbaijani government is struggling with the consequences of global upheavals and pandemics in a situation when the world economy is achieving new anti-records."