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Global Economic Effects of COVID-19

Global Economic Effects of COVID-19 Updated November 10, 2021 Congressional Research Service R46270 Congressional Research Service SUMMARY Global Economic Effects of COVID-19 The COVID-19 viral pandemic is an unprecedented Global phenomenon that is also a highly personal experience with wide-ranging Effects . On September 20, 2021, viral deaths surpassed the 675,446 total from the 1918 Spanish flu, the previously worst pandemic-related death total on record. The pandemic has disrupted lives across all countries and communities and negatively affected Global Economic growth in 2020 beyond anything experienced in nearly a century.

in developing economies where vaccination rates are low. As a whole, developed economies have made strides in vaccinating growing shares of their populations, raising prospects of a sustained economic recovery in late 2021 and into 2022 and, in turn, a recovery in the broader global economy.

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