WEF Report Sees Long Recession Ahead Worldwide

A risk outlook by top professionals has forecast a long-drawn downturn of the global economy and joblessness as the biggest consequences of Covid-19.

- Ankit Kumar

More than 300 international risk professionals, who were asked by the World Economic Forum to look at the next 18 months, believe that a global economic distress in the form of a prolonged recession and high unemployment, especially among the youth, could be followed by a surge in bankruptcies of big as well as small and medium enterprises.

Some of the industries and sectors in some countries might not recover in the next one-and-a-half years, warns the WEF report titled “The COVID-19 Risks Outlook: A Preliminary Mapping and Its Implications”.