According to Fitch Ratings, aggregate direct fiscal stimulus measures for the “Fitch 20” countries, such as the US, UK and Australia, have totalled over $5 trillion, which is 7% of those countries’ 2019 GDP. This outweighs the scale after the global financial crisis, when the advanced economies undertook a fiscal easing of only 3% to 4% of GDP.



That said, is the global response enough to ward off the much feared global recession which some have said could be worse than the Great Depression of the 1930s?

According to Fitch Ratings, aggregate direct fiscal stimulus measures for the &ldquo;Fitch 20&rdquo; countries, such as the US, UK and Australia, have totalled over $5 trillion, which is 7% of those countries&rsquo; 2019 GDP. This outweighs the scale after the global financial crisis, when the advanced economies undertook a fiscal easing of only 3% to 4% of GDP.

That said, is the global response enough to ward off the much feared global recession which some have said could be worse than the Great Depression of the 1930s?

Opinion and analysis of today’s international and local news that matter to Malaysians. Everything you need to know to start and plan your work.

Opinion and analysis of today&rsquo;s international and local news that matter to Malaysians. Everything you need to know to start and plan your work.

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