JPMorgan: "Recession will rock the US and Europe by July."
World Bank: "With the heavy disruption in trade and value chain caused by the coronavirus pandemic, sub-Saharan Africa is set to record $37 billion to $79 billion in output losses this year."
For an economy to be in recession, it means there's a decline in growth (measured by GDP) for two successive quarters. The average recession lasts for a year and a half (17.5months), and every economic zone experiences at least one recession every ten years. Besides the looming recession, the COVID-19 pandemic has disrupted the order of business. After every pandemic or recession, comes a new order that redefines old norms. Luckily for 2020, there would be both a recession and a pandemic in the mix simultaneously.
Medium and small scale businesses are usually the worse hit during any volatile business season. However, it would seem the multibillion-dollar players are...
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