ESCWA Publication: E/ESCWA/CL3.SEP/2020/Policy Brief.1
Country: Arab region
Publication Type: Policy briefs
Cluster: Shared Economic Prosperity
Focus Area: Financing for development
Initiatives: Arab Forum for Sustainable Development
SDGs: Agenda 2030
Keywords: Covid-19, Economic indicators, Economic planning
COVID-19 economic cost to the Arab region
March 2020
Global growth rates are expected to be dramatically low and the world economy is on the verge of a recession. Given this context, the Economic and Social Commission for Western Asia (ESCWA) has made an initial assessment of the cost of Corona in the Arab region.
As per an initial estimate of the impact of the Corona pandemic in 2020, the region would lose at least $42 billion. As the virus contagion spreads to the European Union (EU), the United States of America (USA) and major economies, and with the compounding effect of low oil prices, the losses in income could escalate.
Related content
Financing for development
,
Global growth rates are expected to be dramatically low and the world economy is on the verge of a recession. Given this context, the Economic and Social Commission for Western Asia (ESCWA) has made an initial assessment of the cost of Corona in the Arab region.
As per an initial estimate of the impact of the Corona pandemic in 2020, the region would lose at least $42 billion. As the virus contagion spreads to the European Union (EU), the United States of America (USA) and major economies, and with the compounding effect of low oil prices, the losses in income could escalate.
