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European Commission has predicted the impact of coronavirus on the global economy

UNITED STATES (OBSERVATORY NEWS) — The European Commission said that the peak outbreak of coronavirus, according to the baseline scenario, will occur in the first quarter of 2020, while its impact on the global economy will be “relatively limited.”

“The basic assumption is that the outbreak will peak in the first quarter, with relatively limited global implications,” the winter economic forecast posted on the EC’s website said.

The document emphasizes that the spread of coronavirus, as well as its impact on society, people’s lives and economic activity, has become a source of growing concern.

“The longer it lasts (the spread of coronavirus. – ed.), The higher the likelihood of consequences for economic sentiment and global financing conditions,” the EC concluded.

An outbreak of pneumonia caused by a new type of coronavirus, later officially named COVID-2019, began in the Chinese city of Wuhan in late December 2019. Later, the infection spread to other countries.

As of February 13, the number of people infected with COVID-19 coronavirus in China reached 59.8 thousand people, 1367 patients died, another 5911 were cured and discharged from hospitals. 8030 patients in China are in serious condition.

The World Health Organization (WHO) argues that the current situation can be “just the tip of the iceberg.” Presumably, the first vaccine samples will be ready in a year and a half.

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