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

[Ibrahim60]

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.

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[apleio]

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.

[Vishnu.Reang]

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. 

[jossiel]

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.

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.

[AndySt]

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.

[Sithara007]

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.

[bitterguy28]

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 .

[bryant.coleman]

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.

[Botnake]

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.

[pinggoki]

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.

[ropyu1978]

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.

[cute nmp]

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.

[Sithara007]

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.

[mazdafunsun]

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.

[AicecreaME]

Our Government is a joker, we have season 2 now of lockdown. A lot of their promises has been broken, they said it'll be all over once they get the vaccine but the number of COVID-19 cases surges even more after receiving the Sinovac vaccine (was it even effective?) I guess not, maybe it has the other way around effect on people but the Government doesn't want to expose it out, who knows *shoulder shrugged*

I just don't know how we're going to defeat this pandemic if our Government doesn't know anything how to fight it except on implementing a lockdown, like come on, that's not even a way to defeat COVID-19.

[Vishnu.Reang]

Our Government is a joker, we have season 2 now of lockdown. A lot of their promises has been broken, they said it'll be all over once they get the vaccine but the number of COVID-19 cases surges even more after receiving the Sinovac vaccine (was it even effective?) I guess not, maybe it has the other way around effect on people but the Government doesn't want to expose it out, who knows *shoulder shrugged*

I just don't know how we're going to defeat this pandemic if our Government doesn't know anything how to fight it except on implementing a lockdown, like come on, that's not even a way to defeat COVID-19.

I don't think that there is any issue with the Sinovac vaccine. The point to remember here is that Sinovac vaccine provides immunity only after a certain period from the administration of the second dose (4 weeks?). I don't think that any of the countries that are using Sinovac has moved in to the second dose administration. So you may need to wait for a couple of months, to notice the first impact from vaccination. And don't expect anything drastic at least until the end of this year.

[DrBeer]

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.

To be realistic (I apologize in advance for my assessment), then the mortality rate, globally, for the year of the pandemic cannot be called "threatening" or "huge". For a year all over the world more dies from oncology and cardio problems, from seasonal diseases ... Therefore, it cannot be said that the pandemic has brought high population losses. But for the economy of the whole world, and for many countries, huge damage has actually been done. Moreover, damage that is difficult to compensate or quickly recover. Entire areas of the economy have been destroyed, small businesses go bankrupt, budgets are not filled with taxes and this becomes a "vicious circle" ...

[Question123]

Because economy in my country is down so the price of the goods are rising and some of them are double because the government do a way to recover the economy but sadly all people are suffering because of the inflation happening right now. Covid 19 is really bad effect to the business and also many people die because of this virus and I think we need to have unity to stop that virus if the government implement rules in your rules you must follow them because it's your own protection too why they do that .

[sapnu]

Considering that our country is a third world country, it is suffering a lot because of the pandemic. Starting from hospitals running out of rooms and oxygen up to the increase count jobless citizens, we can already see how detrimental the pandemic has become.  The government ended up borrowing money from the world bank to suffice the needs of people specially for those who are in the poverty but soon, we will also pay the price as taxes began to go higher and higher. Our country's economy will surely be down for so long as it recovers from the damage the pandemic inflicted towards the whole nation.

[Vishnu.Reang]

Considering that our country is a third world country, it is suffering a lot because of the pandemic. Starting from hospitals running out of rooms and oxygen up to the increase count jobless citizens, we can already see how detrimental the pandemic has become.  The government ended up borrowing money from the world bank to suffice the needs of people specially for those who are in the poverty but soon, we will also pay the price as taxes began to go higher and higher. Our country's economy will surely be down for so long as it recovers from the damage the pandemic inflicted towards the whole nation.

Most of the third world countries are in similar position. Even here in India, things are not looking any better. Here the situation is really bad, because a large part of the population used to be employed in the informal sector. And the informal sector is in ruins ever since the pandemic started spreading more than a year ago. Most of the people who were employed in this sector have gone back to their native villages and are leading a hand to mouth existence with the help of handouts from the government and various charities.