Bracing for a recession

Manokaran Mottain: All in all, we expect the domestic economy to contract 2.5% y-o-y this year, with GDP remaining in negative trajectory of between -5% and -3% in at least three quarters of this year

OVER the past couple of months, financial markets have fluctuated wildly due to the Covid-19 pandemic and collapse of crude oil prices since early March. Warnings of an imminent global recession have been ringing louder than ever.

The pandemic has hammered the global economy leading to significant job losses and business closures due to unprecedented measures implemented to contain the spread of the virus.