Covid-19 effect on your country's economy!!!

[kolbalish]

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.

[1714598437]

1714598437

[fiulpro]

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 think I would try and explain what's happening in the country where am living in :
• Inflation
  Only in the local markets though , in the government owned sectors it is more or so the same except for few essentials .
• Schools / Colleges demanding 100% fee and giving out notice on how you will be kicked out if you don't pay . Considering how people don't have jobs during this pandemic, this is really low.
• education level is down but they are still earning.
• People are abandoning their pets and such , whole situation is really dire since , the local shelters are not able to accumulate finding , everyone is struggling.
• Government officials , like the mayor of our city has been kind and not taking salary since 2 months .
• People are supposed to call the doctor when their fever is actually serious , government is in some places trying to hide the number of cases , they are not letting people test for COVID-19 , doctors have been advised by the government to not let the numbers run high , I don't have any proof of this but this is just inside information.

The country where I really belong from :
One word : Corruption
Hospitals are not even admitting patients, not giving them beds , not letting them come inside , asking for unreasonable amounts from the poor ones .

Only government officials are the one who are able to afford some healthcare.

Some people from my family are actually having all the symptoms of COVID  but they are being advised to follow social distancing and just stay at home and try home remedies.

A lot to tell actually , economy is down in every sector , schools and hospitals are enjoying .

The sanitizer companies and masks companies are paying people for making 0.50 inr for 1 mask which is then sold for 40 inr .

This is an unfortunate event .

[abhiseshakana]

Indonesia is a developing country with a population of around 267 million people with a large foreign debt of USD 389.3 billion. Indonesia was a country that greatly underestimated corona at first. When many other countries have contracted corona, Indonesia's positive cases are still zero. Early March 1,2,3 patients were found, now the number of corona positive patients is (Positive 38,277, Healed 14,531, Death 2,134).

Economic growth in Indonesia was still positive in Q1 because it was helped by the balance sheet from the previous period. But since the enactment of the Large-Scale Social Restrictions that began with the cessation of teaching and learning activities, the closure of shopping centers, entertainment centers, and family recreation then the closure of government offices and followed by the closure of private offices automatically slowed economic movements. March of May should have been a period of economic upheaval in Indonesia due to the Eid al-Fitr (the largest holiday and the largest national seasonal migration in Indonesia) but this year there was no surge even felt to reach the level of small and medium businesses and street vendors.

In the condition of increasing the number of covid-19 sufferers per day which is still increasing even before reaching the culmination point, the government decided to reopen the Indonesian economy with consideration of the uncertainty when the vaccine was found and the possibility of chaos if quarantine continued with the fact that the government did not have budged to support quarantine.

What can be seen now in the Indonesian economy is that many people finally start selling, which means many new businesses are growing or demand is declining. Mass dismissals by large-scale manufacturers. Even companies in the same class as Astra have given an intro that if the economic downturn continues, there will be a policy of reducing employees. For airlines, the termination of employees occurs, and also for active employees the salary is only given 25% while for hospitality there is unpaid leave and the reduction of active employee salaries to 50%.

[Krabby]

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 think this will be the event that will make the financial world reset. This is also the purpose that the Chinese government wants, it wants to harm many developed countries so that their economy goes down. then they will be the ones who control the disease first and go ahead compared to many countries. This is an unacceptable act and I hope that in the future there will be alliances against China's expansion.

[plvbob0070]

The Philippines is a third world country and obviously, my country is not ready nor prepared for this pandemic that suddenly arises from nowhere. When it was just starting, the government did not see that this will harm thousands and millions of people across the world that is why they did not ban travel flights immediately which made positive cases in the country increase rapidly.

For the past months of quarantine, the government is giving financial aid using different sectors of the government but it still not enough to feed all starving families that were affected by the sudden lockdown. What I can say is that our government is continuously borrowing money and this will put our country in great debt. Schools are suspended, while the Department of Education is still debating whether to freeze school year while there is no vaccine or to resume classes by August. Online classes won't be effective for everyone since not everyone has access to the internet.

While employees are starting to go back to work with the implemented new normal protocols, but it is still a struggle for everyone to travel because of the lack of transportation. There is also a lot of political issues and problems we are facing even in the middle of the pandemic, even protests outside. Overall, it's not like the government has not done anything, it's just that it's not enough for everyone and there are still lacking when it comes to finding a solution for this pandemic and the economy

[chrisculanag]

The Philippines is a third world country and obviously, my country is not ready nor prepared for this pandemic that suddenly arises from nowhere. When it was just starting, the government did not see that this will harm thousands and millions of people across the world that is why they did not ban travel flights immediately which made positive cases in the country increase rapidly.

For the past months of quarantine, the government is giving financial aid using different sectors of the government but it still not enough to feed all starving families that were affected by the sudden lockdown. What I can say is that our government is continuously borrowing money and this will put our country in great debt. Schools are suspended, while the Department of Education is still debating whether to freeze school year while there is no vaccine or to resume classes by August. Online classes won't be effective for everyone since not everyone has access to the internet.

While employees are starting to go back to work with the implemented new normal protocols, but it is still a struggle for everyone to travel because of the lack of transportation. There is also a lot of political issues and problems we are facing even in the middle of the pandemic, even protests outside. Overall, it's not like the government has not done anything, it's just that it's not enough for everyone and there are still lacking when it comes to finding a solution for this pandemic and the economy

Yes thats a really happen here in our country , our government have dont know about this virus and now we are still facing the pandemic and we dont know too when is the end of this. The oil price rising up to gain more budget that was need to fight this pandemic. Online education still not working good because of some places not good in data connection , the only one cure to us is the vaccine but we still waiting it and we dont know when is it.

[CryptopreneurBrainboss]

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

My country Nigeria, relies on oil as it main source of income and as we all know the pandemic has cause oil price globally to fall drastically. Nigeria isn't the only country suffering from this Oil crash but why ours is very visible is simply because we have no alternative like most developed country. When you speak about the savings from the period which the sales of oil most have been very profitable, the government can't give account of that either. The government has always emphasized the need to shift our focus to other sector like agriculture but I doubt if that can be achieved anything soon since the corrupt politicians are the majority among our leaders and they're fighting for their selfish interest instead of protecting the interest of the country.

The stats been displayed when the government want to give update on their proposed idea of investing in agriculture can't be related to by the average citizen either as most agriculture foodstuffs are still on the increase and when you try patronizing the locally manufactured product, you regret immediately as a result of the poor processing of these foodstuffs due to lack of funding/investment.

Nigeria is likely going to be among the numerous country that'll surfer when this whole episode of global lockdown is over, the government are still putting the country into more debt as a result of borrowing to spend instead of investing meanwhile we still have outstanding debts yet to be paid. Every sector of Nigeria economy is decreasing, even the entertainment sector which was one of our most promising sector is also suffering and if something isn't done in the quickest time possible, we might lose it all as a country.

[btc_love]

I feel sorry for those cafes or small shops that are losing big losses now. I think half of them are now bankrupt. I personally do not think this is right.

[Latviand]

I think this will be the event that will make the financial world reset. This is also the purpose that the Chinese government wants, it wants to harm many developed countries so that their economy goes down. then they will be the ones who control the disease first and go ahead compared to many countries. This is an unacceptable act and I hope that in the future there will be alliances against China's expansion.

China is really wise when it comes to its economy, being a communist country, the government can really control its people. We don't have any strong evidence that they do it this Covid-19 intentionally just to harm other countries' economy.

Some developed countries are really suffering just like the US, they have the largest number of Covid-19 among other countries.

China right now is recovering from this virus that originated from them, as of now, June 15, 2020, they have only 177 active cases of Covid-19. Even though they experienced huge number of Covid-19 cases these past few months, still their economy is stable because they are the top manufacturers of some products like face masks, alcohol, and etc.

[$crypto$]

In the sector, of course, at the beginning it was experiencing a crisis that was so bad where the government continued to try to fight Covid-19 when more and more were infected, but in my country, as it is now, the situation has recovered to normal and has been implemented, meaning that it can still be overcome by easy but we still have to be able to protect our body from the virus.

But I see on the news in the United States now there are a lot of riots with the demonstrators is this really because of the injustice of its citizens?

[jossiel]

I feel sorry for those cafes or small shops that are losing big losses now. I think half of them are now bankrupt. I personally do not think this is right.

It isn't right but due to the situation and the circumstance that everyone is facing, this is inevitable at the moment. But it doesn't mean that there's no room for them to recover. There's always a room for the recovery once everything's back to normal or if not, the new normal.

But I see on the news in the United States now there are a lot of riots with the demonstrators is this really because of the injustice of its citizens?

I'm not from there but it's all about the protest due to George but most of the rioters are going far and doing things on their own. They're no longer related to justice that they're asking for George.

[Assface16678]

Here on a developing country of the Philippines, there are a lot of things happen the same with the other country first let's take a look at the business some of them are closing immediately when they know that the virus is already entered to our country and some of them buy a lot of things they need like a stock of foods and other things basic need for daily living, also the government warn the people on the community to take a break for meantime and follow the rules.

By the time goes by the number of people are now having trouble because those supplies given to them by the government are going to shortage and they want more on that case some of them are begging right now, of course, those people who have a lot of money and in the middle class does not having a problem because they have supplies but those people who are one of the poorest needed some assist by the government officials. Now the same scenario and now lift up the GCQ into MGCQ and resume some of the jobs right now but still there is fear on the virus which the people are not afraid today is they going to infect because there are some cases they will die because of hunger or they will die because of the virus.

[Golftech]

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.

Most of the affected businesses are small food chain, those who are only getting from dine in customers are really affected, the economy of this sectors are down and not everyone can facilitate online services and provide deliveries.
A lot of this small players are closing permanently, they can't survive the time frame from the government, without financial aids from the government more will be closing soon.

I feel sorry for those cafes or small shops that are losing big losses now. I think half of them are now bankrupt. I personally do not think this is right.

They can't survive if they will not embraced online orders, if they can't provide deliveries they will be closing and more of them will be bankrupts.

[CarnagexD]

I feel sorry for those cafes or small shops that are losing big losses now. I think half of them are now bankrupt. I personally do not think this is right.

This pandemic really bring huge discrepancy compared to our previous economy. We are really suffering from this downward movement in the market because of this quarantine. Many businesses are really affected no matter how big or small it is. They are prohibited to operate and open because of the risk of getting the disease from the customers.

That's why our economy is going down.

This general community quarantine allows other businesses to operate in the midst of this pandemic to somehow recover from this economic crisis. We all know that it will take more time to discover the vaccine but we also need to make a way for us to sustain our needs in this Covid-19 event.

[Wexnident]

~snip

Let's not forget how the issue of the effects of the pandemic was almost one-sidedly put into the sidelines because of the issue of the anti-terrorism act that the president is enforcing right now. Not sure if it was intentional or not but really, it's like they're basically wasting their time, effort, and brain cells in the issue when we have a larger issue at hand. Not saying that it shouldn't be discussed, but it felt like they forced the topic of the pandemic effects to go to the sidelines.

Looking at it's economy though, it is notedly reported that due to China being top trading partner of PH, and seeing as how China was first hit by the Pandemic, you can expect it's economic growth to stagnate quite a bit, or even decrease at that. Just a bit of search shows that the economy of the PH lost around 2.2trillion PHP ($43billion) according to an article I found. Not trusting the number much though, since I really expect a lot of corruption happening behind the scenes even with the pandemic ongoing.

Article:https://business.inquirer.net/298536/p2-2-trillion-in-losses-cost-of-covid-19-impact-on-ph-economy

I feel sorry for those cafes or small shops that are losing big losses now. I think half of them are now bankrupt. I personally do not think this is right.

Personally yes, but thinking about it on a countrywide scale? They'd have to bear it. Still, right now most countries are easing up the quarantine and small cafes should be able to open, or at the very least, be able to deliver goods to customers that want to order. That can at least provide them with some sort of profit.

[sheenshane]

All the countries that were hit by the pandemic experienced the economic recession for a few months of implementing either the lockdown or what they call enhanced community quarantine brought severe damage to the economy and to the citizens.

Currently in my country including the others have started to open their economy again for it is the only way for the government to recover from such damage caused by the pandemic it may not be yet time for the covid19 has no cure yet but if a certain country regardless of first or third world country will not take the risk it may even cause death for their economy which we all hope not to happen to our respective country.

For now, the best thing we can do is to work and pay all the necessary taxes that we need to in order for our country to cope up with the severe damage that we have gained from this crisis.

[raidarksword]

Sad to say all countries are suffering right now due to covid19 especially to our country wherein we only a third world country that struggling and our economy is deeply down. With so many companies closes down and many people got out of jobs due to business closure that really made it worst. Our government really trying hard to help the people by providing support to each families like foods and cash assictanse as much possible until this pandemic is over.

[Fredomago]

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.

This Pandemic really brings fall in almost all side of each countries specially in Financial status of our country but i know that it will never take long before recovery.

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

It is the Job sector because the Manpower now are getting losing ,imagine that almost all of the biggest company are either shutting down or kicking their employees to cover the operating expenses?


But our country are now starting to Make it up,since the community is now under General Community Quarantine so the chance of finding their own source of living are indeed going on.

[slapper]

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.

Everywhere in the world are effected with this disease and no economy has a chance to escape from it. The result have shown that many businesses have to shut down their jobs and many people have been pushed to unemployed. It has been a nightmare to everyone. My country is also suffered a huge loss

However, as the quarantine was annouced, many places have push away this pandemic and return to their job. Everything is not the same but we can look foward for a btter future. Telecompanies are the first one who suceed in maintaining thier job not for their own employees but also other parts of the world. They have connected people from places to places and bring more chances for other to work together during this pandemic

The world may not be the same. But as we are human, i do believe we will figure out ways to deal with this corruption. After every recession, the world always become a better place, right ?

[azmirihaque]

Our country is highly affected by COVID-19. Thousands of people have already affected and death rate are increasing increasingly. The economy of our country has badly affected. Thousands of people have lost their jobs. Banks are decreasing the salary. After all the country is in the face of a great challenge.