Nordea Economic Outlook: Long time to heal economic scars
The outlook for the world economy remains bleak. The COVID-19 pandemic has evolved into the biggest health crisis in 100 years, and the draconian measures to curb the spread of infection have had enormous financial costs. While economic growth will soon be on the rise again as locked-down communities gradually reopen, it will likely be a long time before the economic scars have fully healed.
The Nordic economies have also been hit hard by the containment measures and global recession. However, thanks to good public finances, they are relatively well equipped to deal with the long-term