Topic: Covid-19 effect on your country's economy!!! - page 8. (Read 5290 times)

Our country had been affected in so many ways when covid-19 started to strike us here. As of the moment, we are getting worst as we can see the medical and health sector is battling more and more cases everyday and we are running out of resources for we only have a few. Almost all sectors were dying and a lot of people are starving and eventually, our economy has dropped down. Yes, nobody could predict when all this crisis should last. We are just hoping for the Sputnik V vaccine from Russia to be released and our Government are now coordinating and we people are much willing to participate in vaccine Mass Testing and hopefully it will turn out better so we can all be back and face our lives once again with courage and great pride to lift up our country's economy.

The second wave is already underway in some of the countries such as Spain and the United Kingdom, while other nations such as the United States and Brazil are still reeling from the first wave. And the country where this virus originated (China) is now back to normal life, as they have successfully managed to contain the pandemic (as of now, they are having a total of 386 active cases).

The vaccine will not save us from the crisis. The crisis was inevitable, the coronavirus only brought it closer. Although even now we have not entered its main stage.
The economy always moves in a cyclical manner, the rise is replaced by a recession and recession is followed by a rise. Global economic indicators have long been overheated and need some shake-up.

I think the only country that is expected to grow their economy is China, every other country on this world will see drops in their GDP. In my country the government is taking the most losses as they are paying the companies to keep on the staff. Especially the Service Industry and Hotels in particular saw a huge drop in their revenues. Unemployment is not yet strongly on the rise as long as the governement is paying part of the wages. It all depends on how severe the second wave of corona is going to be. The affects on the economy will likely be delayed by 6 month.

The general effects are same in all over the world like the economic crisis and closed schools. In my country All the school and colleges are currently still closed and the students are using the virtual education methods with the teachers. Also, unfortunate, many people lose their job and experiencing real hard time with their families. For example, The traditional shopkeepers can't work anymore since the stores are closed. But in the hand, many people are forced to learn and start working with the digital markets due to the huge demands, Also we have many young people learning attracted and to the stocks, crypto and bitcoin world.

Here in the Philippines, we are now close to 200k cases (now standing at 194k+ as of today). Each city of province are classified into different levels of lockdowns.

ECQ (Enhanced Community Quarantine) - Level 4 (highest quarantine level, strict lockdown)
MECQ (Modified Enhanced Community Quarantine) - Level 3
GCQ (General Community Quarantine) - Level 2
MGCQ (Modified General Community Quarantine) - Level 1 (lowest quarantine level)

Because of that, more and more Philippine-based companies have closed and filed for bankruptcy. There are some who even closed after 3 or 4 decades of service (not to mention ALA Boxing where it produced boxing champions like Donnie “Ahas” Nietes). On top of that, lots of citizens have lost their jobs.

Presidential spokesman Harry Roque was even “happy” that only 45% of the Filipinos have lost their jobs. Does it really making us happy when these 45% are losing their jobs? Absolutely not!

I also don’t like the incompetence of the local and national government, especially in handling this COVID-19 crisis. I love the Philippines, but not the government due to corruption.

Even my sister’s franchising business was also closed after a year in awarding them with the most number of sales on their first month of operation. Now it was all gone due to this pandemic.   

I’m just thankful that I hanged on in being a home-based worker for various crypto and blockchain projects and gigs. Even though it’s not much, but they helped me with my basic needs such as paying bills and other expenses.

It's not only Indonesia that is in that kind of situation. Many countries have or had their economies down during the lockdown. But with the help of the policies imposed, businesses are slowly opening as well as other establishments. At least, a country's economy have its way to bounce back despite all the setbacks. It may not be that fast for everything to go back to normal but at least there's hope.

Are you in Colombia?

The whole world is now engaged in the Corona War. States that are struggling to save lives have more of a troubled economy. The number of hungry and jobless people is increasing across the country. Agriculture and construction sector play a big role in our economy. No matter how much we talk about exports, it is not under our control. The goods may not return to the place where they were exported.

It still takes time to materialize but we must be optimistic and I agree that the opportunity for the economy to run well is really needed so that all can also get a wage for life's needs.

but there is renewable news that UNAIR has found a covid drug and is just waiting for the POM agency's permission to get a distribution permit.

In my country Indonesia, the economic system is in decline, many offices closed at the start of the pandemic, traditional markets and tourism are closed. Many people were laid off and unemployed, but over time new normal protocols emerged that made all lines of the economy slowly reopen. with the hope that everyone will return to their normal normal situation and the people will return to live in prosperity.

I think the thread is monitoring the progress of controlling corvid around the world for over 2 months. There is more concern with the production of Vaccine at the moment and lot of progress had been made but such a sensitive project that deals with life requires proper assessment, although some part of the world are still expecting the second wave, at the moment, data on the casualties are concealed/controlled from the media and the world at large to prevent some reactions.

In my country (India), the economic situation still remains in a perilous state. The government has lifted lockdown, but the economy is in a dormant state. People are not stepping out of their houses, unless there is an emergency. This obviously means that businesses such as restaurants, tourist resorts, transport.etc are facing financial ruin. And worse still, this may continue for another 4-5 months at least.

The new protocol is the New Normal?

actually the whole world is implementing that because nothing will happen good in economy if we continue Locking down the people.

there are so many people that losses their Job and need to go around and find profiteering and this is the best way to help them out so they need not to asked government for help.

Almost all countries have experienced the crisis due to the coronavirus. Many industries have suffered in my country, I think as in many other countries - transport, trade, restaurants, cafes, cinemas. A large amount money was allocated from the country's budget to pay for the work of medical workers but it's insufficient. In addition, the national currency has strengthened, because of this, the prices for locally produced goods have risen. We had a crisis before the virus but now it's even worse.

In my country there's a minimal improvement in the economy, establishments has already begun to operate with guidelines to be followed to keep their people safe and to prevent from getting infected, but it is really struggling to those people who goes to work due to lack of transportation because public transportation were still suspended. And even though many have lost their jobs most of the people trying to find some alternative ways on how to earn. Sad to say that the number of infected here are continues to increase,and the government has no control over it.

to be honest, at this time my country adopted a new protocol, and that made activities return to normal in the midst of this pandemic. I also feel that at this time the economy in my country has started to improve. although previously COVID really affected the economic system in my country to create a lot of new unemployment, but now the recovery has begun.

Our government is keep borrowing a lot of money from other nations and it seems that we are now highly in debt because of the pandemic, the economy in my country is keep shrinking even though the businesses are now starting to operate again. All of the citizens of our country is affected because of the virus and it seems it will take a long period of time before a vaccine to be discover in order to return to our normal lives like before. The global economy now enters global depression, it is also expected that many people around the world are suffering because of the pandemic.

Vaccine is not just the answer, it is always the people and the government.

Remember that there are countries that flattened the curve without the vaccine. That just proves that disciplined people and great decision skills of the government could stop the contamination of the virus. It is much better with the vaccine and if Russia is done with it, this would be better.

World crisis is inevitable because of the effect of corona virus scares that threaten many lives at risk and already killed thousands of people all over the globe. This pandemic brought negativity towards the economy that many people losses their jobs because of majority of business were force to shutdown in our country due to danger the lives of employees. Vaccine will only be our savior and that's one thing we need to have as soon as possible.