Central Bank warns shock to the economy will be more severe than anticipated

The governor of the Central Bank has warned not all jobs lost during the Covid 19 pandemic will be recovered.

The unemployment rate reached 16.5 per cent in March as hundreds of thousands of people were left without work.

In an interview with The Business Post, Gabriel Makhlouf also says the shock to the economy will be more severe than anticipated.

The Central Bank has already warned it could take a hit of 15 per cent if restrictions aren’t lifted by September.