High Debt Burden on Countries and Companies

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Tired doctors and epidemiologists. However, it has also brought record-breaking vaccines, awakening the willingness of countries that have been dormant for too long to invest, forcing europe to become more united, chief economist of swedbank in latvia , estimates what this means for the economy and what we can expect in 2021 . Crisis and growth go hand in handed virus has shaken the foundations of billions of people around the world, severely affected the physical and mental health of many, and claimed the lives of more than one and a half million people.

The economy has been hit hard, as has the financial situation of many entrepreneurs and citizens. Swedbank estimates that the global economy shrank by about 4% in 2020, a much worse result than in the  industry list  financial crisis 11 years ago, when the global economy fell by only 0.1% at its lowest point. But 2020 has also been a great year: thanks to collaboration and joint efforts, science has shown an amazing ability to learn about the new virus in record time, to treat patients better and, most Surprisingly, to develop effective vaccines. This progress in science, as well as the return of common sense in international politics in the form of the outcome of the us election and the Brexit agreement.

Suggests that the world will be able to breathe a little in 2021. The main source of optimism, of course, is vaccines, which have given hope that a return to a more normal life will be relatively soon. However, the risks remain high, as the virus may surprise us with new and more dangerous mutations against which vaccines will have to be adapted, thus delaying the defeat of covid-19. It is clear that covid-19 will not disappear completely, so some of the restrictions will remain in 2021. However, assuming a successful vaccine story, economic growth after the roller coaster in 2020.