If the world were to play a game, and the
convener of the game says “raise up your hand if
your country has been in a recession in 2020,”
more than half of the hands in the world will be
up.

The other half with their hands down will be led by
China — a country with nearly 20 percent of the
world’s population. Of the top 10 most populous
countries, only Bangladesh and China are likely to
avoid a recession in 2020.

The Bill and Melinda Gates Foundation captured it
well when it said in its 2020 Goalkeepers report
that “the COVID-19 financial loss is twice as
great as the ‘Great Recession’ of 2008. The last
time these many countries were in recession at
once was in 1870, literally two lifetimes ago”.

When this report was released in September, 2020,
Nigeria was yet to officially enter into a
recession, but the signs were there, and very
clear that the rest of the world already projected
one. On Saturday, the National Bureau of
Statistics (NBS) officially announced the GDP
numbers.

The question then is what countries have slid into
recessions in 2020, and what countries are strong
— or protected — enough to stave off a
recession.

According to S&P, of the 34 economies in the
world with a GDP of more than $200 billion, only
three of them did not report a recession — China,
Chile, and Sweden. Chile and Sweden were on the
brink of recession, but China has been growing —
despite the pandemic.

Chile has a history of staving off recessions; it
was one of the countries that beat the 2008
global economic crisis, expanding by over 3
percent. But the country’s central bank has said
it will go into a recession in 2020.

Many other countries are said to be experiencing
a recession — but cannot have not yet called one
because the data has not been completely
collated.

TheCable brings you a list of countries in
recession:

1. United States

2. Japan

3. United Kingdom

4. India

5. Brazil

6. Russia

7. South Africa

8. Austria

9. Germany

10. Switzerland

11. Belgium

12. Canada

13. Denmark

14. Estonia

15. Finland

16. Hungary

17. Ireland

18. Italy

19. Latvia

20. Lithuania

21. Mexico

22. Netherlands

23. Norway

24. Romania

25. Spain

26. Nigeria

27. Peru

28. Turkey

29. Israel

30. Poland

31. Czech Republic

32. Thailand

33. Singapore

34. Malaysia

35. South Korea

36. Australia

37. Portugal

38. France

39. Indonesia

40. Hong Kong

https://thecable.ng/us-uk-canada-south-africa-here-are-40-countries-experiencing-a-recession-in-2020

is this to justify what we are facing, has all this country increase the citizens taxes.

It's well. Temporary set back, we will get there.

If you cannot beat them join them I guess.

Bro. Nigeria should not be there what is happening to Nigeria is mismanagement of resource, do you know how much Nigeria generate from POS alone, in every One thousand naira, CBN get 2.5 naira , do you know how many millions of transaction in a minute, Just POS we are not talking of transfer, deposits from your bank. Bro Nigeria is not in any reccession.

They always look for countries experiencing bad things like nigeria to justify their failures. But op, you forgot that there are countries not experiencing recession, what of that list? Also all these countries you wrote up there have a lot of things in common except nigeria. For example, all these countries have 24 hour electricity, good roads, top notch health and education systems, etc. So apart from the recession you mentioned what else does nigeria have in common with those countries?

Hyperchi:
is this to justify what we are facing, has all this country increase the citizens taxes.

Biden is planning to increase it by 35%

Let me see list of 40 Developed country abg...

Since u guys like comparing things...

Nonsense Australia is not in recession...100% fact!

Nigeria is suppose to be topping that list because even with recession all those countries are way better than Nigeria's economy

The last
time these many countries were in recession at
once was in 1870, literally two lifetimes ago”.

Now when was the last time Nigeria was in reccession?... 2016

That's old news to niggas like us! Where's Jordan?

Messi with ankle injury is still far better than a fully fit Origi..

The current Nigerian recession is the worst for about 35 years.

Basically they are saying the Nigerian recession is as bad as the last time, Buhari was the president.

What an awful record.

The two most disastrous recessions in Nigeria occurred during the incompetent presidency of Buhari

NOC1:

Biden is planning to increase it by 35%

he is planning but have not. here vat, oil, light, import, transport etc. has all increase.

We are supposed to take advantage of them in recession doing economic catch up. Because they are on recession don't mean we have to be on recession too. Bubu shorting down a country instead of growing it.