Global Economic News

OECD Says Global Economy Faces Deepest Recession Since Great Depression

The Organisation for Economic Cooperation and Development said the global economy is undergoing the deepest recession since the Great Depression in the 1930s due to the coronavirus, or Covid-19, pandemic.

As restrictions begin to ease, the path to economic recovery remains highly uncertain and vulnerable to a second wave of infections, the Paris-based think tank said in its latest Economic Outlook, published on Wednesday.

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by RTTNews Staff Writer

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