The World Bank has released its forecast for the global economy in 2020, stating that the COVID-19 pandemic and lockdown measures imposed by many countries to control the virus will lead to the lowest global economic recession in 80 years since World War II. Although many countries have lifted lockdown measures and resumed economic activities, the impact remains significant.

       The World Bank forecasts that global GDP may contract by as much as 5.2%, with the GDP of major economies potentially shrinking by up to 7%, and emerging economies contracting by 2.5%. The second quarter of 2020 is expected to be the worst period for Western countries, as the virus spread heavily in Europe and America. If the COVID-19 pandemic continues to persist, the global economy could contract by as much as 8%, with a projected recovery of around 1% next year.

      GDP forecasts for the United States may see a contraction of 6.1% before recovering in 2021, similar to Japan. The GDP of the Eurozone is expected to shrink by about 9.1%, while China's GDP is projected to grow by only 1%, down from 6.1% in 2019. Other countries like Brazil are expected to contract by 8.0%, India by 3.2%, and Thailand by 5.0%.

         The economic recession caused by this pandemic may also lead to long-lasting "economic scars," as global investment levels are expected to remain low for some time. Additionally, global trade and supply chains have been partially disrupted, while unemployment rates have risen, with many businesses facing bankruptcy or entering restructuring processes.

        Emerging economies are at greater risk of severe impacts due to their reliance on supply chains, tourism, exports, and financial markets, causing their economies to stall when these sectors cannot operate. However, the decline in oil prices during this pandemic may benefit the resumption of economic activities.