Dr.. Ali Mohamed Al-Khouri: The potential losses to the global economy as a result of the “Covid 19” epidemic may reach $80 trillion

Date: 06 - 07 - 2020

His Excellency Dr. Ali Mohamed Al-Khouri, during his speech at Seamless Saudi Arabia 2020, said that given the challenges posed by the Covid-19 epidemic, it can be clearly seen that it is not limited to the social and economic aspects only, but that it has made the world await the unknown.

And he added that by reading the announced figures, recent studies indicate that the potential losses to the global economy as a result of this epidemic, within five years, may range between $3 trillion in the case of a quick recovery, and more than $80 trillion in late recovery scenarios.

Dr. confirmed. Al-Khouri said that the final results will depend on two main factors, one of which is related to the issue of containing the virus, and the other is related to the approach that governments will follow and the measures they will take. Incurred by companies, job losses in parallel.

He added that all the main scenarios remain viable possibilities, and economies that operate with traditional systems will not be able to survive and continue for a long time in this rapidly changing and transforming world, towards deepening digitization practices.

He concluded that the actions that governments will take today will largely determine the future of their societies.

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