The impact that the coronavirus (COVID-19) outbreak could have on the economy depends on how the outbreak plays out. In a scenario that results in a global pandemic, it is predicted that the Gross Domestic Product (GDP) of the United States will decline by 2.4 percent, and the Russian ...
While public health measures have mitigated morbidity and mortality, the excessive loss of GDP will lead to years of life lost due to recession with diminished spend on healthcare, safety and the environment. This paper will review the estimated COVID-19 economic impact and show that it is ...
Estimating the size of GDP loss in Southeast Asia due to the COVID-19 pandemicLe Thanh Tunghttps://orcid.org/0000-0002-1477-7799jb@econ.au.dkJan BentzenLe Thanh Tunghttps://orcid.org/0000-0002-1477-7799jb@econ.au.dkJan Bentzen
“While it may be a little early to fully quantify the long-term economic impact of the pandemic, IHS Markit estimates that by 2030 the level of real GDP for key developed economies could be 2.0–5.0% lower compared with a no-pandemic scenario. In our August forecast, after a contraction ...
been yielding above 20 per cent of economic growth. But during the pandemic, the tourism industry came to a halt affecting the livelihoods of millions. A report by UNWTO predicted a loss of around 910 billion to 1.2 trillion dollars in the export revenues of the tourism sector in 2020 alone...
The AU also projected exports and imports of African countries to drop by at least 35 percent from the level reached in 2019, in which the loss in value is estimated at around 270 billion U.S. dollars. "The fight against the spread the virus and medical treatment will lead to an increas...
With the rising poverty and setbacks on development outcomes, the COVI9-19 has been identified as a problem to the gains on human capital [33,34,35]. The rise in mortality rates associated with the pandemic has translated to the loss of primary care givers that has further made households ...
It consists of the five domains of resource losses due to COVID-19, including loss in financial resource (e.g., “reduced incomes”), loss in fun (e.g., “loss of fun in life”), loss in future control (e.g., “more difficult to control one’s future”), loss in social ...
This paper analyses the short- and long-term effects of COVID-19 peak on the socio-economic and environmental aspects of Pakistan. According to the estimates, an economic loss of about 10%, i.e. 1.1 trillion PKR, will be observed in the FY 2021. Certain pandemic impediment measures like ...
This month's forecast includes the largest monthly revisions to projected GDP growth we have ever made. With data confirming plunges in activities curtailed by "social distancing" to limit the spread of COVID-19, we lowered our forecast for GDP growth in the first quarter to-3.5%, in the ...