1. The new coronavirus, which first emerged in the Chinese city of Wuhan last December, has infected more than 145,000 in at least 118 countries and territories globally with over 5400 death, according to the World Health Organization.
2. The virus outbreak has become one of the biggest threats to the global economy and financial markets.
3. Major institutions and banks have cut their forecasts for the global economy, with the Organisation for Economic Co-operation and Development being one of the latest to do so.
4. Meanwhile, fears of the coronavirus impact on the global economy have rocked markets worldwide, with stock prices and bond yields plunging.
5. Fall in oils prices as The Organization of the Petroleum Exporting Countries (OPEC) fails to agree on oil production cost. The price of oil per barrel is already in its lowest price in 5 years
6. Global sport under threat, majority of the major football league, NBA, formula one and other sports has been suspended
7. TV revenue from sport likely to decline. If the major football leagues in Europe is not completed then they tend to lose up to €600 million.
Key facts of the coronavirus on global Economy
1. The new coronavirus, which first emerged in the Chinese city of Wuhan last December, has infected more than 145,000 in at least 118 countries and territories globally with over 5400 death, according to the World Health Organization.
2. The virus outbreak has become one of the biggest threats to the global economy and financial markets.
3. Major institutions and banks have cut their forecasts for the global economy, with the Organisation for Economic Co-operation and Development being one of the latest to do so.
4. Meanwhile, fears of the coronavirus impact on the global economy have rocked markets worldwide, with stock prices and bond yields plunging.
5. Fall in oils prices as The Organization of the Petroleum Exporting Countries (OPEC) fails to agree on oil production cost. The price of oil per barrel is already in its lowest price in 5 years
6. Global sport under threat, majority of the major football league, NBA, formula one and other sports has been suspended
7. TV revenue from sport likely to decline. If the major football leagues in Europe is not completed then they tend to lose up to €600 million.
1. Growth is constraint as a result of lower Oil price caused.
2. Fiscal operation in jeopardy as a result of lower oil price.
3. Foreign trade also slows down
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http://giftedanalysts.com/what-is-the-impact-of-coronavirus-on-the-nigerian-economy/