The shock of the coronavirus pandemic and shutdown measures to contain it have plunged the global economy into a severe contraction. The World Bank forecasts that the global economy will shrink by 5.2% this year.
![Drone shot of Tbilisi during Lockdown in April 2020 due to Coronavirus. Photo: © Wirestock Images/Shutterstock Drone shot of Tbilisi during Lockdown in April 2020 due to Coronavirus. Photo: © Wirestock Images/Shutterstock](https://web.archive.org/web/20200615042832im_/https://www.worldbank.org/content/dam/photos/768x721/2020/jun/Tbilisi.jpg)
The shock of the coronavirus pandemic and shutdown measures to contain it have plunged the global economy into a severe contraction. The World Bank forecasts that the global economy will shrink by 5.2% this year.
Updated global estimates of the impact of coronavirus forecast 71-100 million will be pushed into extreme poverty.
The fight against COVID-19 continues but countries are also planning for the future. Watch World Bank Group President David Malpass explore the recovery path after the pandemic.
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Learn how we are responding and supporting countries to manage the COVID-19 (coronavirus) pandemic.
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