Global economy seeing sharper V recovery: Morgan StanleySeptember 8, 2020 - 14:04 AMT PanARMENIAN.Net - The global economy is likely to recover to pre-pandemic levels by early next quarter, about three months earlier than previously expected, Reuters has cited economists at Morgan Stanley as saying. “The evidence indicates that the virus/economy equation has shifted decisively from the early days of the outbreak,” they said in a note to clients, saying that the recovery has continued to gather momentum as countries get better at managing the virus. The U.S. economy could reach its pre-Covid-19 levels by the second quarter of next year, while the entire developed markets could reach that level by the third quarter of next year, they said. Coupled with unprecedented levels of fiscal and monetary support and possible disruptions to trade, the prospective recovery is likely to be accompanied by stronger inflation, they said. Estimates by Warwick McKibbin of the Brookings Institution and Australia National University showed earlier that the coronavirus pandemic could cost the world economy some $35 trillion through 2025. Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |