Economic Consequences of the COVID-19 Outbreak

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Instituce
Masarykova univerzita
Fakulta/ústav
Fakulta ekonomicko-správní
Další údaje o pracovišti
Katedra veřejné ekonomie
Lektoři
Paul Ablorh

The essay is to bring to the fore, the economic consequences of the COVID-19 pandemics. COVID-19 is not only a global health problem but an economic problem as well. It has affected every aspect of life - physically, mentally, psychologically, medically, and financially. It has affected incomes, employment, transportation, service, manufacturing, and industries. Countries have been forced, among other things, to instigate disease mitigation measures with huge costs and levels of degree of inconvenience. Its presence took the world by storm, and it’s devastating economic effect seems not to be ending any time soon. There is the need for proactive international and domestic actions required to save lives and livelihoods.