Losses from the coronavirus pandemic have already exceeded the damage from the global financial crisis of 2008 and the attacks of September 11, 2001, Interfax reports with reference to an interview with the BBC broadcasting company, Secretary General of the Organization for Economic Cooperation and Development (OECD) Jose Angel Gurria.
“Even if there is no global recession, we will get either zero or negative growth in many countries of the world, including the largest. Because of this, global growth will not only be low this year, but will also be restored for a long time,” Gurria said.
“We don’t know how much money will be needed to fight unemployment – because we don’t know how many people will lose their jobs. And we don’t know how much it will take to reanimate hundreds of thousands of medium and small enterprises that have already suffered,” the head of the OECD believes.
Earlier it was reported that the remaining car factories are closing in Europe due to the coronavirus pandemic. So, Volvo Cars closed its Belgian plant in Ghent due to the coronavirus pandemic, becoming one of the last automakers to resort to this measure.
Previously, the suspension of production in Europe due to the coronavirus was announced by Volkswagen AG, Daimler, Ford, Fiat Chrysler Automobiles, PSA Group, as well as Renault. It was also reported that Volkswagen will reduce production of the Skoda Rapid model at the plant in Kaluga due to lack of components.
The OECD, established in 1948, is one of the leading international economic organizations in the world. It unites 36 developed countries, including most of the EU countries.