February 25: Comparing the economic stimulus of 2008 and 2020
Across countries, economic stimulus packages for the COVID-19 crisis outsized those for the 2008 financial crisis.
Source:Â McKinsey
Published: June 2020
Comparing the economic stimulus of 2008 and 2020
Across countries, economic stimulus packages for the COVID-19 crisis outsized those for the 2008 financial crisis. Governments worldwide knew lockdowns would have devastating financial repercussions, and spent an astonishing $10 trillion on economic stimulus in just two months.
Country & 2008 vs. 2020 Economic stimulus as % of GDP
Country:Â Germany
2008:Â 3.5
2020:Â 33.0
Country:Â Japan
2008:Â 2.2
2020:Â 21.0
Country:Â United States
2008:Â 4.9
2020:Â 12.1
Country:Â India
2008:Â 1.2
2020:Â 10.0
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