Considering the effects of total lockdown on the economy, some citizens still feel that the whole procedure was needless & uncalled for, as the economy will never recuperate from the financial setbacks & monetary losses accrued over the period of the compulsory lockdown exercise. Is there an appreciable growth in your country's economy since the ban on lockdown was lifted? Was the effect more severe on individuals, communities or the nation/ continent as a whole?
In North America, it is very high positive in the post-lockdown period and the government is the most affected party. A number of initiatives were introduced to support individuals and businesses which incur huge debt for governments.
Dear Peter Mudiaga Etaware,
Due to the SARS-CoV-2 (Covid-19) coronavirus pandemic, many countries in Europe will probably experience negative economic growth in 2020, i.e. a recession in the range of several percent. A particularly difficult economic situation occurred in many countries in the 2nd and 3rd quarter of 2020. These are usually countries with a lockdown economy and / or where tourism accounts for a large part of the economy. However, in connection with the introduction of interventionist instruments for activating economic activity, including the so-called Anti-crisis shields, the scale of the economic downturn has been reduced and the economic growth forecasts for the end of 2020 and for 2021 have been slightly raised. Therefore, perhaps some countries will end 2020 with a small positive result of economic growth and with much greater economic growth in 2021. In most countries where during the first wave of the pandemic, lockdown of the economy was introduced and then high-budget programs of interventionist socio-economic policy, programs of financial support for commercially functioning economic entities from public funds of the state significantly increased the level of public debt, often reaching the maximum levels of optimal risk of financial system liquidity countries. Therefore, the possibilities of financing another possible Anti-Crisis Shield and introducing another lockdown of the economy in connection with the current (October 2020) 2nd wave of the Coronavirus pandemic are already very limited and almost impossible to introduce. In addition, in some countries, e.g. in the country in which I operate, the lockdown of the economy and the so-called Anti-crisis shields, which were to reduce the financial losses of companies suffered by the lockdown, were held in elections, i.e. an important political event that could have had a significant impact on the decisions taken by the government. An interesting issue is that despite six months of experience in conducting anti-crisis policy in health care, crisis management, socio-economic, anti-pandemic and sanitary security systems, at the moment of the rapid increase in infections among subsequent citizens, there is still no integrated pandemic risk management system developed. to follow what actions will be implemented, what decisions will be taken by the government in the coming weeks and months in the situation of the continuation of the current (October 2020) trends of rapid increase in the number of people infected with the SARS-CoV-2 coronavirus and suffering from the Covid-19 disease. The only positive aspect of the current situation in this matter is the results of research in the field of virology, which show that the current wave of the pandemic is caused by a new, mutant type of Coronavirus G614, which is characterized by several times higher levels of contagiousness but without an increase in pathogenicity. Therefore, perhaps in the following months, by spring 2021 at the latest, the overwhelming majority of the society is in favor of being infected with Coronavirus, then society will acquire natural social immunity to this virus and the impact of subsequent waves of the pandemic on people's lives, on the health of society, on the economy will be negligible. Greetings,
Dariusz Prokopowicz
In my personal opinion, the implementation of mandatory quarantines, the closure of commercial activities, and the closure of airports, was and will be necessary when facing pandemics like the current one. However, these must be accompanied by disposition by each government. In the case of Latin America, our countries are absolutely harmed, even more than by the virus and quarantine, by the same state.
A state that does not support the lower strata, or small companies, that all its resources are for large companies, even despite being international. In our countries, especially in Colombia, the main cause of the economic crisis is the national government.
To encourage debate on the economic impact in this region, I share the following manuscript:
Article Economy or Health, Constant Dilemma in Times of Pandemic: Th...
Dear Peter Mudiaga Etaware,
I think we need to modify the question. I suggest that we have to ask if the economic growth in a each and every country is positive or negative rather than to ask if the economic growth in a certain continent is positive and negative. I want to see your response before trying to answer your question.
Best Regards
Desalegn Abraha
Dear Peter Mudiaga Etaware,
The economy of Africa is improving progressively after the momentary lockdown. Is the economic growth in your continent positive or negative? If I have understood the question properly I dare to say that the economic growth in my continent is positive not negative. As a matter of justification I do not see the reason why economic growth can be negative.
Best Regards
Desalegn Abraha