Global economic losses from pandemic top up to $10 trillion

Head of the Russian Accounts Chamber Alexei Kudrin said that the health systems of the countries around the globe have demonstrated unreadiness for the pandemic

The losses of the world economy from the coronavirus pandemic total from $4 trillion to $10 trillion, Head of the Russian Accounts Chamber Alexei Kudrin said in a video address to participants of the third International municipal forum of BRICS states.

“According to various estimates, the losses of the world economy from the pandemic total from $4 trillion to $10 trillion, with the bulk of those losses accounting particularly for budgets of regions and municipalities,” he said, adding that the health systems of the countries around the globe have demonstrated unreadiness for the pandemic.

“Health, social support systems have demonstrated unreadiness for global shocks. Today’s task of state bodies and supervisory agencies at all levels is to draft mechanisms that will enable those systems to become more stable and efficient,” Kudrin noted.