Coronavirus: The Worst India is On the Way
According to the news released by the Indian Ministry of Health on the morning of the 18th, as of 8 am local time, the number of confirmed cases of new coronavirus pneumonia in India reached 7,494,551, including 1,14031 deaths, 6,597,209 recovered cases, and 1,033 new deaths. , There were 61,871 newly confirmed cases within 24 hours.
In fact, India’s worst time has not yet come, and there is no sign of turning point.
According to the “India Express” news, a scientific committee appointed by the Indian government said on the 18th that the epidemic in India has reached its peak. By February 2021, the country may have 10.6 million active cases.
A total of nearly 7.5 million! The situation in India will worsen, and GDP will shrink by 10.3%.
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The deteriorating situation in India has increased its economic uncertainty.
Internationally renowned investment bank Barclays said the disease remains a major concern in countries such as India and Brazil.
Earlier, India’s credit rating was also downgraded by three well-known international investment banks. S&P adjusted its rating to the lowest investment grade rating of “BBB-”, and Fitch downgraded it to BBB to negative; Moody’s downgraded its credit rating from Baa2 to Baa3, the outlook is “negative”.
It is worth mentioning that in the second and third quarters, the overall global economic situation is actually getting better. The situation in India is just the opposite.
Next, due to the epidemic, the International Monetary Fund (IMF) predicts that the recovery of different economies around the world will be long, uneven and highly uncertain.
The IMF predicts that developed economies will decline by 5.8% this year, of which the US economy will decline by 4.3%, the Eurozone economy will decline by 8.3%, and the UK economy will decline by 9.8%. The economy of emerging markets and developing economies will decline by 3.3%, of which the Indian economy will shrink by 10.3%.