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

[kotajikikox]

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.

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.

[Vishnu.Reang]

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.

[royalfestus]

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.

[dondonk]

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.

[lepbagong]

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.

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.

[SANihal02]

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.

[Sophiecisram]

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

Are you in Colombia?

[samputin]

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.

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.

[cheezcarls]

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.

[Leviathan.007]

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.

[Mauser]

many countries have experienced a decline in their economies due to covid-19. The economy in my country has fallen greatly because the number of people who are positively affected by the corona virus, even though many have recovered, but those who are newly exposed to the corona virus are still increasing every day. the effect of the economic downturn in my country, namely from the trade sector, for foodstuffs and clothing to be expensive because of the small supply, and the very expensive transportation costs.

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.

[TrevorS]

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. 

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.

[Vishnu.Reang]

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 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).

[Sapphire915]

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.

[iyamoxjhian]

many countries' economy is affected by this pandemic.. It is unpredictable! people never thought that they're gonna loose their job and being affected by recession..many company and business loss profits and income that made them stopped to operate.. people can noy afford to loss their source of income especially in third wolrd countries as they can not depend on their government's support..it was really hard to recover in terms of economic aspects.

[aiguy]

its right, every country facing lot of financial problem, country like developing countries facing too much, because they have many problems at a time like establishing poverty, fill the installment etc. and the main effect is covid-19 so country all budget serving in there, that why its effecting much

[bryant.coleman]

its right, every country facing lot of financial problem, country like developing countries facing too much, because they have many problems at a time like establishing poverty, fill the installment etc. and the main effect is covid-19 so country all budget serving in there, that why its effecting much

Even if the developed nations are facing any issues, they know how to deal with it. Because they either have enough reserves of cash to get around, or can borrow money at low interest rates. That is not the case with the developing nations. For example, in Q2 the Indian GDP went down by a massive 24%, which is much more than what the developed nations experienced.

[ArIMy11]

For the past six months, our Government is trying to help those jobless people which include jeepney drivers since public transpo are not allowed during the ECQ period. For those who are employed in private sectors, Government told to provide the 13th month pay earleir than expected so it can be used during ECQ because if they cannot WFH they will have no source of income.
For the month of March to April, the main business district was in under ECQ. Almost all the operation were stopped except for those who work from home, medical staff, and some food vendors. Of course it will cause the economy to go deep down.

[Xanxus024]

It affects a lot there are more business here are shutdown and worse part is some of them are totally closed. Many people lost their job because of the pandemic. Hopefully the vaccine will discover as soon as possible so there's a chance that everything backs to normal.

[lumeire]

It affects a lot there are more business here are shutdown and worse part is some of them are totally closed. Many people lost their job because of the pandemic. Hopefully the vaccine will discover as soon as possible so there's a chance that everything backs to normal.

The chances of vaccination of people until the end of December are very less as even after the development of the vaccine there would be testing of the vaccine on the human test subjects and even by the WHO too, which will take a lot of time as being impatient in case of a new vaccine can actually cost millions of lives if there is something wrong with the vaccine.
Even in my country the GDP for this quater have fallen drastically and a lot of people have become jobless and many businesses have also closed because of bankruptcy.