Post
Topic
Board Economics
Re: Covid-19 effect on your country's economy!!!
by
Finestream
on 13/07/2020, 21:29:02 UTC
Our country is one of the high-risk countries from Covid-19. Because of the pandemic, lots of companies were forced to close their businesses and lots of people have lost their jobs. It is also expected that the tourism industry in our country would witness major impacts as it closed its borders to other countries. Our government is now on a deep debt just to sustain the whole country while fighting against this pandemic. Despite the lockdown and lots of restrictions, the number of infected people here is still rising. The situation is actually getting worse and we have no choice but to believe that everything will still get better and our economy could still recover.

That is sad to hear. Does your government somehow support their citizens? Monthly allowance? Support of a small and large business?
In my country government allocated some amount amount to dying industries like tourism and restaurant business (this is not the biggest source of income). But they are strangely selective. For example small business has almost no support, same is no allowance for those who pays taxes regular.

In our country there was a monthly allowance given before, but I think they don't have the funds already for that now since they are not actively giving compared to the previous months. 

Thing is, monthly allowance is only possible as temporary support but this pandemic has gone longer than expected already, so the government will run out of funds, that is the reason they might to open the economy despite of the health risks to get funds to use for the pandemic, so it's really hard to expect at the moment since our economy are in trouble and we should be working well to ensure that we can survive.