The global economy faces the worst crisis since the Second World War
Japanese Foreign Minister Toshihiro Mogi said on April 20 that the global economy is facing the worst crisis since the Second World War due to the impact of the new virus epidemic.
According to Kyodo News, Momogi said: “The impact on the international economy, including the Japanese economy, is extremely serious, and the global economy is facing the worst crisis since the war.”
According to Kyodo News, due to the development of the situation, the Japanese government plans to increase the budget of anti-crisis measures to 117.1 trillion yen (about 1.09 trillion US dollars).
Against the backdrop of the new virus epidemic, Japan had previously adopted a “package plan” to respond to the crisis with a total of no more than 108 trillion yen.
However, some Japanese experts believe that this measure is not enough. Japan ’s unemployment rate will increase to 2.72% in the fourth quarter of this year, an increase of 1.56 million from the same period last year.
Therefore, the Japanese economic situation may be worse than during the 2008-2009 crisis.
According to the April World Economic Outlook released by the International Monetary Fund (IMF), affected by the epidemic, global GDP will fall by 3% or more in 2020, and will increase by 5.8% in 2021, an increase of 2.4 from January ’s forecast percentage point.
The forecast pointed out: “Due to the global epidemic, it is expected that the global economy will seriously drop by 3% in 2020, which is worse than 2008-2009.
According to the basic situation, the epidemic will be controlled in the second half of 2020, and continuous efforts will be able to gradually achieve Positive results, the global economy is expected to grow by 5.8% in 2021. ”
Before the signs of a global pandemic emerged, the IMF lowered its growth rates for 2020 and 2021 by 0.1 and 0.2 percentage points in January, an increase of 3.3% and 3.4%, respectively.