Covid-19 effect on your country's economy!!! - page 5.

mazdafunsun

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Quote from: kolbalish on June 14, 2020, 02:25:12 PM

World is facing a new crisis almost last 6 months+ and who knows how much it will remain. For this pandemic outbreaks, economy is getting down in many countries. It's getting cursed for one sector based economy.

Explain your country's economy here by mentioning the sector which is getting down day by day for this pandemic.

I live in Europe, and my countries response to pandemic has been horrific and stupid . We did and are playing the slow game, we did close shops , theaters, sports and all the gatherings. But we did not implement a lockdown , the result is a slow economic bleed for over 4 months. We are getting deeper and deeper in debt . This all could have been avoided if we had a proper lockdown which stopped people from going to each other and spreading the damn thing.

Sithara007

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Quote from: Botnake on March 19, 2021, 02:57:15 AM

Don't worry, soon they will all get the vaccine, some countries are even donating vaccine to the poor countries so it's not really a problem. We were able to survive before the vaccine, now that it's here and the only problem is only the distribution and production, it should not be a big problem anymore.

The so called "donations" usually involve very small quantities and they are not sufficient to vaccinate even the highest priority population group. These deliveries normally include only 10,000 or 20,000 doses of the vaccine. The poorer nations are hard hit, as the developed nations have mopped up supply from most of the Western vaccine manufacturers. The only vaccines that are available to the poorer nations are Chinese brands such as Sinopharm and Sinovac.

cute nmp

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Covid-19 had a devastating effect on the economy of my country,Many people were made unemployed combined with lower volumes of export and a decrease in Gdp.The economy contracted by 6.1 Percent during the pandemic.There’s also little sign of a quick turnaround in the economy as the virus is yet to be gone.

ropyu1978

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I must say covid-19 really affect our country economically, it hit us drastically, like domino effect our business sector big and small, companies, all level and our government is really trying his best to help and support our countrymen but still it we cannot deny the fact that up until now were still struggling...hoping for miracles.

Almost business down after pandemic attack exactly with my country and now have many regulation, economic like danger and not any space how to recovery and back normal activities. I think need new concept how to stop covid 19 because almost regulation and concept make by many government not working and now have new kinds of covid 19.

pinggoki

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The impact of this Covid 19 was really affect the economy of each country right now especially those country in the 3rd world country, many country has been down on a huge debt to the world bank due to this virus. My country which is the Philippines has a total of 10 billion debt to the world bank in order to supply the needs of the Filipino citizens and in order to buy the vaccine. This virus brought us a big problem and crash the economic growth of every country all over the world.

Botnake

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Quote from: bryant.coleman on March 19, 2021, 01:30:41 AM

Quote from: bitterguy28 on March 19, 2021, 12:06:52 AM

year after , we again seems to be having a Lockdown because the daily infection increase significantly to what is the situation last year.

Now each local government is implementing their own security measures to handle the infection and prevent from spreading more as the vaccine is already under distribution .

In countries where the vaccination has progressed the infection is mostly under control. I am talking about countries such as the United Kingdom, Israel and the United Arab Emirates. On the other hand, the number of new cases in the United States is still not under control, despite the fact that 116 million doses have been administered so far. US is the only outlier among counties with high vaccination rate. Other worst affected countries have low vaccination rates - such as Brazil, Russia and Italy.

Don't worry, soon they will all get the vaccine, some countries are even donating vaccine to the poor countries so it's not really a problem. We were able to survive before the vaccine, now that it's here and the only problem is only the distribution and production, it should not be a big problem anymore.

bryant.coleman

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Quote from: bitterguy28 on March 19, 2021, 12:06:52 AM

year after , we again seems to be having a Lockdown because the daily infection increase significantly to what is the situation last year.

Now each local government is implementing their own security measures to handle the infection and prevent from spreading more as the vaccine is already under distribution .

In countries where the vaccination has progressed the infection is mostly under control. I am talking about countries such as the United Kingdom, Israel and the United Arab Emirates. On the other hand, the number of new cases in the United States is still not under control, despite the fact that 116 million doses have been administered so far. US is the only outlier among counties with high vaccination rate. Other worst affected countries have low vaccination rates - such as Brazil, Russia and Italy.

bitterguy28

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Quote from: kolbalish on June 14, 2020, 02:25:12 PM

World is facing a new crisis almost last 6 months+ and who knows how much it will remain. For this pandemic outbreaks, economy is getting down in many countries. It's getting cursed for one sector based economy.

Explain your country's economy here by mentioning the sector which is getting down day by day for this pandemic.

year after , we again seems to be having a Lockdown because the daily infection increase significantly to what is the situation last year.

Now each local government is implementing their own security measures to handle the infection and prevent from spreading more as the vaccine is already under distribution .

Sithara007

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Quote from: AndySt on March 18, 2021, 07:31:13 PM

It seems that the absolute majority of vaccines present on the market should still cope with coronavirus mutations, and it is not for nothing that many vaccines use two-component compatibility. According to the vaccine developers themselves, if the vaccine is already developed, then it is much easier to make adjustments to it due to mutations. The most important thing is the scale and timing of vaccination of the population, and without this it will be difficult to improve the standard of living of the population that has fallen due to the pandemic.

It may be possible to make adjustments to the vaccine to make it effective against the mutations. But if they do that, then the clinical trials need to be repeated once again, and that is going to take many months. And by the time the new version of the vaccine is ready, the population may be dealing with newer and more fatal mutations and strains of the Coronavirus. For now, the concentration should be on vaccinating the population with the existing formulations.

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Quote from: Ibrahim60 on March 18, 2021, 01:02:29 PM

In my country Covid-19 impact is so bad. My country is not a developed country. Covid-19 has had a huge impact on the economy in my country. The price of each commodity has increased 2 times or more. The situation of poor, middle class and lower middle class very bad. If such a situation exists, I think there will be food shortage in our country. Besides, as a result of Covid-19, also the value of my country's money has decreased.

Everyone is literally struggling with the pandemic and even with vaccines there are new strains coming out and we have no clarity whether these vaccines can help when the virus is mutating which means we need to wait much longer to go back to normal. I am not having any food issues but my salary is cut in half but the expense are still the same which is making things difficult and hence i am forced to sell some of my cryptocurrency assets.

It seems that the absolute majority of vaccines present on the market should still cope with coronavirus mutations, and it is not for nothing that many vaccines use two-component compatibility. According to the vaccine developers themselves, if the vaccine is already developed, then it is much easier to make adjustments to it due to mutations. The most important thing is the scale and timing of vaccination of the population, and without this it will be difficult to improve the standard of living of the population that has fallen due to the pandemic.

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Quote from: apleio on March 18, 2021, 01:51:10 PM

The effects have been very bad to the point that poverty has been returned until 20 years ago and the central bank has sold more than half of all gold reserves, leaving the country in debt for another 50 years with multilateral entities.

Why they have to sell those gold reserves if they've been printing money for the stimulus? where you from? did your country sold your gold reserves? that would be a hit for your fiat since most fiat are backed by gold reserves.

Quote from: bitzizzix on March 18, 2021, 04:51:06 AM

The impact of COVID-19 does not only have an impact on health but also on the economy which is very troublesome for countries and individuals.
and I think more about the fate of the economy of the lower middle class such as laborers, traders, and so on.

Yes, the lower middle class and those who are living from paycheck to paycheck. Jobs were stopped, many companies closed and filed bankruptcy.

Vishnu.Reang

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Quote from: apleio on March 18, 2021, 01:51:10 PM

The effects have been very bad to the point that poverty has been returned until 20 years ago and the central bank has sold more than half of all gold reserves, leaving the country in debt for another 50 years with multilateral entities.

According to the Pew Research Center, the number of poor increased by 131 million as a result of this pandemic. On the other hand, the middle class declined by 90 million (with more than one third of that decline occurring in India). Even the high income group has seen a decline of 62 million in absolute numbers. More and more people are pushed towards poverty, and in the coming months it will be even worse.

The data from Pew Research Center can be accessed here: https://qz.com/india/1985855/more-poverty-smaller-middle-class-in-india-china-in-pandemic/

The biggest increase in the number of poor people have been reported in South Asia and Sub-Saharan Africa. Latin America seems to be somewhat unaffected. India alone has seen it's poor population increasing by a massive 75 million.

apleio

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The effects have been very bad to the point that poverty has been returned until 20 years ago and the central bank has sold more than half of all gold reserves, leaving the country in debt for another 50 years with multilateral entities.

Ibrahim60

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In my country Covid-19 impact is so bad. My country is not a developed country. Covid-19 has had a huge impact on the economy in my country. The price of each commodity has increased 2 times or more. The situation of poor, middle class and lower middle class very bad. If such a situation exists, I think there will be food shortage in our country. Besides, as a result of Covid-19, also the value of my country's money has decreased.

bitzizzix

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The impact of COVID-19 does not only have an impact on health but also on the economy which is very troublesome for countries and individuals.
and I think more about the fate of the economy of the lower middle class such as laborers, traders, and so on.
like I have a small shop or simple grocery store that only generates little income even loses money because what I sell is not selling, and I still live it and fortunately I am here or this forum is my alternative source of income.
and many people lose their jobs and so on, and during a pandemic there are people who benefit and some are disadvantaged, I mean, during a pandemic many people will prefer to shop for necessities and so on online through applications which make real traders worse off.

Sithara007

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Quote from: MarcoS97 on March 17, 2021, 11:21:24 PM

germany had a stabil economy. It did not effect any big companys. the main problem is on the small buisness owner. so many people loose their small buisness and the thing they love doing... in overview its not that bad, but when you take a look on individuals, it could be heartbreaking

It has been one year since the lockdowns were first imposed. That means that the owners of small businesses are now without normal revenue for 12 months. Developed nations have announced all sort of stimulus measures to compensate these people. But if you are living in a developing nation, any sort of compensation from the government is likely to be inadequate (in case you manage to receive it). Here in India, I have seen some of my friends plunging in to huge losses as a result of inability to open their businesses.

Pom_bensin

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Quote from: kolbalish on June 14, 2020, 02:25:12 PM

World is facing a new crisis almost last 6 months+ and who knows how much it will remain. For this pandemic outbreaks, economy is getting down in many countries. It's getting cursed for one sector based economy.

Explain your country's economy here by mentioning the sector which is getting down day by day for this pandemic.

in my country all sectors have experienced a drastic decline, shopping centers that are always busy are closing, there are many layoffs of workers everywhere. this is bad. plus people's purchasing power, according to many economic sectors has experienced a minus, but in this year it seems to be increasing slowly, hopefully next year it can return to normal

MarcoS97

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germany had a stabil economy. It did not effect any big companys. the main problem is on the small buisness owner. so many people loose their small buisness and the thing they love doing... in overview its not that bad, but when you take a look on individuals, it could be heartbreaking

mezzaluna

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The lock down in most of our communities happened a year ago on March 15,2020 but even though most people expected our life to get better, we thought wrong because we are gonna enter another lock down period which has an indefinite time period. We are already on lock down for almost a year and the number of active Corona Virus on our country is still skyrocketing. Our economical status is also on another All-time low but our government officials are saying that we have one of the smartest way to mitigate the virus but seeing the graphs of comparison, we are one of the countries in SEA that still have this high number of Corona Virus patients and most of our hospitals are already full. Living in the Philippines is a nightmare and there is absolutely nothing I can do to help even though I want to do something. All I can do is abide and stay healthy to not be a burden to anyone in my family.

conected

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Quote from: Argoo on March 17, 2021, 07:44:54 AM

Quote from: mung_nasib on November 19, 2020, 12:40:18 PM

the impact of the emergence of covid in my country is very severe, especially in the factory sector because the majority do mass layoffs and from there unemployment increases and the economy also gets worse when there is no income every day.

In my opinion, the coronavirus pandemic a year after its official announcement has already had a very significant impact on all states without exception. Moreover, despite the fact that many vaccines have appeared to combat it, we are now witnessing the third wave of coronavirus, and even several of its varieties, which are much more dangerous than the previous type. Therefore, it is rather difficult to say that we are already defeating the coronavirus.
Economically, the situation in different countries is different, but all countries have been very seriously affected by it. Most importantly, we cannot yet say when this pandemic will end.

- Indeed, the vaccine for covid-19 has already begun to be sent out to users of the country but the response was not optimistic when I heard some side effects had occurred and besides, the wave of covid continued to be generated as Covid began to change and mutate, people in these countries are still very attentive and worried about this issue. Economy is also only just slightly improved due to the arrival of vaccines but unemployment has not yet decreased when Covid has not been fully resolved, capital to stimulate the economy has not been released

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