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    Covid 19 first emerged in late 2019 and has since spread to over 190 countries, negatively impacting the global economy. The pandemic is causing lost revenues and disrupted supply chains as factories close and movement is restricted under national lockdowns. Estimates indicate the pandemic could curtail global economic growth by up to 2% per month and reduce global trade by 13-32% depending on the severity and duration of the downturn. The International Monetary Fund warns that Asia will see no economic growth in 2020 for the first time in 60 years. It is important to study the impact of Covid 19 on key economic indicators like GDP, monetary policy, commerce, industry, stock markets and employment.

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    Covid 19 first emerged in late 2019 and has since spread to over 190 countries, negatively impacting the global economy. The pandemic is causing lost revenues and disrupted supply chains as factories close and movement is restricted under national lockdowns. Estimates indicate the pandemic could curtail global economic growth by up to 2% per month and reduce global trade by 13-32% depending on the severity and duration of the downturn. The International Monetary Fund warns that Asia will see no economic growth in 2020 for the first time in 60 years. It is important to study the impact of Covid 19 on key economic indicators like GDP, monetary policy, commerce, industry, stock markets and employment.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    9 views1 page

    Covid 19 and Global Economic Condition

    Uploaded by

    s.husain.bhu
    Covid 19 first emerged in late 2019 and has since spread to over 190 countries, negatively impacting the global economy. The pandemic is causing lost revenues and disrupted supply chains as factories close and movement is restricted under national lockdowns. Estimates indicate the pandemic could curtail global economic growth by up to 2% per month and reduce global trade by 13-32% depending on the severity and duration of the downturn. The International Monetary Fund warns that Asia will see no economic growth in 2020 for the first time in 60 years. It is important to study the impact of Covid 19 on key economic indicators like GDP, monetary policy, commerce, industry, stock markets and employment.

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    © All Rights Reserved
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    Covid 19 and Global Economic Condition

    Dr. Shahid Husain


    Assistant Professor
    Department of Accounting
    College of Administrative & Financial Sciences
    Saudi Electronic University
    Email. s.husain.bhu@gmail.com

    Abstract
    Since Covid 19 first outbreak was diagnosed it has spread to over 190 countries. The pandemic is
    having an adverse impact on the world economic conditions. The intensity and the negative
    impact of Covid 19 can be realized from the statement of International Monetary Fund that
    compares its loss with that of great depression of 1929. Confirmed cases of Covid 19 are
    increasing by leaps and bound and businesses are coping with lost revenues and disruptive
    supply chains as factories are shut down and movement are restricted. National lockdown around
    the world has shattered each and every sector of economic and social activity whether it be
    industry, trade, commerce, health, security and education. Estimates so far indicate that the
    pandemic could curtail global economic growth by as much as 2% per month if current situation
    persists. Global trade could also fall by 13% to 32% depending upon the severity of the global
    economic downturn. International Monetary Fund on April 15 warns that Asian Economy would
    see no growth this year (2020) for the first time in 60 years. It is therefore, imperative to study
    the impact of Covid 19 on global economic activities with reference to Gross Domestic Product,
    Monetary Policy, Commerce & Industry, Stock Market, Employment etc.

    Keyword: Covid 19, Economic Impact, Global Economy, pandemic

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