The internal economic structures of many countries across the world were affected due to the global pandemic. After almost a year, the situation is getting better.
According to Morgan Stanley, the global economy is expected to get better by the end of this year. The policy support has given a comparative analysis of the current situation and the economic downfall of 2008. A swift recovery is to be expected for the post-pandemic condition.
Chetan Ahya is hoping for a V-shaped recovery as great improvement has been observed in the growth data and policy action. According to economists, the policymakers are positive towards economic improvement since the virus has reduced due to excessive lockdowns.
There is an expectation for the global economy to improve by 3 %. The authorities and central institutions are providing flexible services to ensure the recovery of global financial systems.
Due to the pandemic, the unemployment rate rose and had affected many households. To improve the financial situation, the government of the US has taken initiative to provide funds to the natives.
According to the statistical figures of congress, a budget of $2.2 trillion was specified to provide financial aid to the American citizens. These funds included health care expenses too.
Larry Kudlow, White House Economic advisor, stated that to bring the country’s economy back on track, some other rescue relief packages would be introduced. He further mentioned the country’s economy has entered a quick journey of recovery.
According to Danielle DiMartino, the country should not be too affirmative regarding the rapid economic recovery since the unemployment rate is still 18%. But according to American economists, the economy has already improved and will be even better in a short period.