The global economy during and after COVID-19 pandemic.

This paper studies the impact of a covid-19 pandemic on the global economy. The empirical analysis of the work is based on data before and after (2019-2021) covid-19 and uses OECD data figures. The paper uses comparative analysis to find out changes during the pandemic and at the height of the pandemic, the global economy has passed the lowest point of the crisis, and it began economic growth in the leading countries of the world. This growth, like the crisis, developed in different ways in the economies of the US, EU and China. Our results show that during the pandemic, as a result of the lockdown, almost simultaneously, there was an abrupt increase in unemployment and a decline in production in all countries. In OECD countries, unemployment jumped from 5.2% in February to 8.5% in April, in the US - from 3.5% in February to 14.4% in April, in China - from 5.3% in January up to 6.2% in February. In China, both the epidemic and the economic crisis began earlier than in all other countries, respectively, the economy began to grow earlier. Our findings come to conclusion in a such way, despite the fact that, according to the forecast, the damage in the medium term will be less than after the global financial crisis, it is still significant. So, in 2024, the expected level of world production will be about 3 percent lower than before the pandemic. Countries differ in the degree of expected scarring, depending on the structure of the economy and the scale of the policy response. Emerging market and developing economies are predicted to face more palpable scars than advanced economies. [ABSTRACT FROM AUTHOR]