World Economy Faces $5 Trillion Hit: Bloomberg
The coronavirus pandemic is set to rob the global economy of more than $5 trillion of growth over the next two years, greater than the annual output of Japan.
That’s the warning from Wall Street banks as the world plunges into its deepest peacetime recession since the 1930s, after the virus forced governments to demand that businesses close and people stay home, Bloomberg reports.
Although the downturn is predicted to be short-lived, it’ll take time for economies to make up the lost ground. Even with unprecedented levels of monetary and fiscal stimulus, gross domestic product is unlikely to return to its pre-crisis trend until at least 2022.
- Gazprom, Turkey Discuss Using TurkStream for Gas Supplies to Europe Earlier, Burmistrova said that Gazprom may consider delivering some of TurkStream’s gas further to Europe, on the condition that the demand for gas in the country continues to decline. Gas purchases...
- China's Economy Will Grow 2% This Year and 7.9% in 2021 "A premature policy exit and excessive tightening could derail the recovery," the World Bank said in its latest economic update on China, released Wednesday. It predicts the world’s second-largest economy...
- World Oil Prices Dropping And the Brent oil futures for February supplies fell by 2.97 percent to $50.71 a barrel.
- Oil Prices Fall as OPEC+ Members Debate 2021 Output Policy "Last week’s optimism is taking a hit this morning and longs are edging towards the exit ahead of the OPEC+ talks," said oil broker PVM’s Tamas Varga, after OPEC+ failed to agree on policy in informal...
- OPEC Sees Steeper Oil Demand Drop as Virus Remains Challenging World oil demand will tumble by 9.46 million barrels per day (bpd) this year, the Organization of the Petroleum Exporting Countries said in a monthly report, more than the 9.06 million bpd decline expected...
Foreign Ministers of Armenia and Georgia Held a Meeting in Tsinandali
Gagik Jhangiryan and David Khachatryan Elected Members of Supreme Judicial Council
Artsakh's Foreign Ministry Welcomes European Parliament's Position on NK Conflict
5 Day Weather Forecast in Armenia
Military Exercises do not Prove that the Turkish-Azerbaijani Leadership has Peaceful Intentions towards Armenia. Armenia's MFA
Bodies of 3 Civilians and a Serviceman Found in Artsakh
The Need for an Enduring Political Solution on the Status of Nagorno-Karabakh is Essential for Securing Regional Peace and Stability: U.S. Ambassador
Armenia's President Hopeful Armenian-American Cooperation to Promote Long-Awaited Peace and Stability in the Region
Iran’s FM to Visit Armenia on January 27
Artsakh to Unite Emergency Situations Agency and Police Under Single Ministry of Internal Affairs
European Parliament Condemned Azeri War Crimes and Called for Accountability – FM Spokesperson
Armenia Records 165711 Confirmed Coronavirus Cases
European Parliament Strictly Condemns Turkey's Destabilizing Role in Nagorno Karabakh
Armenia Reports ‘Stable Situation’ Along Border with Azerbaijan
Armenian, Russian DMs Discuss Issue of Return of Captives During Phone Conversation
Bishop T. Vrtanes Abrahamyan appointed Primate of Artsakh Diocese
Primate of Artsakh Diocese of Armenian Apostolic Church is Dismissed
5 Day Weather Forecast in Armenia
Armenian, French FMs Discuss Post-war Situation in NK Conflict Zone by Phone
Deputy Health Minister Appointed Governor of Armenia’s Shirak
Lavrov: No Provocations Against Russian Peacekeepers in Nagorno-Karabakh
Azerbaijan President's Statement Contradicts point 8 of Statement Signed on November 9, 2020: Arman Tatoyan
Artsakh Authorities Find More Bodies of Fallen Troops in Ongoing Search Operations
Artsakh Security Chief: We Could Have Avoided the War
Colorado Identifies First Known Case of UK Coronavirus Variant in US
Armenia to Import 2,250 Goods from Iran Instead of Turkey
Bodies of 1,111 Fallen Armenian Soldiers Retrieved So Far: Artsakh Emergency Service
Let's Believe that 2021 Will Restore Our Lost Dignity
Armenian, Azerbaijani Intelligence Chiefs Discuss PoW Exchange at Moscow-Mediated Meeting
Armenia Ombudsman: What Azerbaijan Military has Done is Step with Clear Intention to Intimidate Civilians
Wind: 4 km/h