World Bank: Global GDP will drop 5.2% this year

The World Bank has announced its forecasts on global economic growth.

Report informs that the Gross Domestic Product (GDP) will drop by 5.2% in 2020 and rise 4.2% in 2021.

According to the previous forecast, these figures were 2.5% and 2.6%, respectively.

The World Bank thinks that the Chinese economy will grow 1% this year, US and Eurozone economies shrink 6.1% and 9.1% in 2020. These figures are expected to be 6.9%, 4%, and 4.5% in 2021, respectively.

Generally, the economies of the developed countries are forecasted to fall 7%, developing countries – 2.5% in 2020.