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Coronavirus Pandemic: Experts peg lockdown cost at $ 120 billion

“We estimate that the cumulative shutdown cost around USD120 billion or 4 per cent of the gross domestic product (GDP),” British brokerage Barclays said in a note, revising down its FY21 growth forecast by 1.7 percentage points to 3.5 per cent.

It specified the cost of the three-week nationwide lockdown to be alone at USD 90 billion, which is over and above the lockdowns announced by various states like Maharashtra earlier.

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One third of humanity under virus lockdown

China, where the new virus emerged last year, loosened tough rules on the 50 million people in Hubei province on Wednesday after a months-long lockdown as the country reported no new domestic cases.

The provincial capital Wuhan — the ground zero of the outbreak after it was initially detected at a market that sold wild animals for human consumption — will allow residents to leave from April 8.

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