Impact of Coronavirus on Global Economic Growth

The economic growth and development of people are the indicators of prosperity of nation. The global economy today faces the outbreak of Coronavirus(COVID-19) which has led to loss of human lives. This economic shock has derailed an already sluggish global economy. Many experts have warned that the Coronavirus could result in one of the worst recession since the Great Depression of 1930s. Through this paper, I have analyzed the impact of Coronavirus on the global economic growth prospects using GDP as indicator of the growth. The GDP of a country reflects the total output produced by it. It is the sum of consumption, investment, government spending and net exports. I have based my analysis on the GDP data(historical data and future forecasts) of the countries. I have also looked at the current state and future direction of business cycle to analyze the prospects of economic growth in the coming one to three years