OECD slashes 2020 global growth outlook on coronavirus fears - Business Insider

Claudio Furlan/Lapresse via Associated Press

Global growth is expected to fall as low as 1.5% this year, halving the OECD's previous 2020 projection from last November of 3%.The world economy is in its most "precarious position" since the 2008 financial crisis, the Organization of Economic Co-Operation and Development said in its"The global economy faces its biggest danger since the financial crisis. Containing the epidemic and protecting people is the priority," OECD warned.

"We have revised our projection for the year from an already low 3% in November to only 2.4%, lower than in any year since the financial crisis. In a downside-risk scenario where epidemics break out in some other countries across the globe, the slowdown will be sharper and more prolonged," Boone said. , killed at least 3,000, and spread to upwards of 60 countries.

Governments should support people who are sick with payments to stay at home and not spreading the virus.

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and there's a looming recession.

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