The European Commission said today that the eurozone economy would contract 7.7 per cent this year due to the coronavirus outbreak. Also Read: Italy claims world's first coronavirus vaccine; human trials soon The EU called it "recession of historic proportions", but said that economies of the continent would rebound next year with 6.

'Recession of historic proportions': Eurozone economy predicted to contract 7.7%

While coronavirus continues to batter the global economy, the fate of Indians working in Gulf countries dangles by an extremely thin thread. The world economy is bracing itself for a recession worse than the Great Depression during which unemployment and poverty will be at its peak.

Uncertainty lies ahead for Indian expats in Gulf countries

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'Recession of historic proportions': Eurozone economy predicted to contract 7.7%

Uncertainty lies ahead for Indian expats in Gulf countries