Array

The struggle of various economies around the world due to the current pandemic

The Covid-19 pandemic has affected a major part of people’s lifestyles. As a result, there have been various changes around the world. The hardest-hit sector is the economic sector which is dwindling and causing major anxiety among the different countries. It is argued that this pandemic has ushered in a lot more problems as compared to the Financial crisis of 2008-09.

Colin Williams view of the pandemic on economy

COLIN WILLIAMS, a professor of public policy at the Sheffield University Management School, UK, shared an article regarding the pandemic shattering the lifelines of millions of people around the world and especially, in poorer developing countries.

Across the world, people wish to revive their sources of income.

ECONOMIC FORECAST GROWTH OF VARIOUS COUNTRIES

As per the International Monetary Fund (IMF), India’s economy is estimated to grow at a rate of 12.5% in 2021 despite the emerging threat from the rising Covid-19 cases. Whereas, China’s growth is projected as 8.4% and the US as 6.4% for the fiscal year of 2021-22. The countries like Thailand are also experiencing the remnants of the pandemic as it is difficult for it to rebound from a negative growth of 6.1% last year, according to the analysis of available data from the bank of Thailand. And, the economic growth of the Middle East and North Africa is forecasted to advance by 2.1% for the year 2021, according to the World Bank.

These figures depict a slight optimism regarding few countries but, a larger burnt is truly, being borne by the poor developing countries. Thus, policymakers across the world have to take the initiative of reviving the economy. It will definitely be interesting to see how the different economies around the world play their part in reinstating their economic programs and the growth of their respective nation.

Do you want to publish on Apple News, Google News, and more? Join our writing community, improve your writing skills, and be read by hundreds of thousands around the world!

Latest Stories – News Landed

+ North English Independence – Twitter trend or political reality?
+ Britain swooped by “kill the bill” protests

Related Stories

Scientists use genetics to save the threatened the Amazon parrots

Researchers from Oakland University are mapping genomes from the amazon parrots in an effort to save them from extinction....

Not-So Eternal: The Eternals trailer ironically signals expiration of interest in MCU

We are a little less than a month away from the release of Marvel Studio’s Black Widow on July...

Featured Stories

India is one of the largest producers of COVID vaccine and yet faces major internal shortages

The worsening situation in India finally gained some stabilization around September 2020. Usually, when things start getting better, people...

The US supports easing patent rules on Covid-19 after intense internal debate…

Since the coming of the pandemic, there has been a lot of debates and questions around the Covid-19 vaccines....

Itziar Ituno says farewell to Inspector Lisbon in Money Heist

After Pedro Alonso (Berlin), Miguel Herrán (Rio), and Jaime Lorente (Denver), it is now Itziar Ituño who has fastened...

Abell 3827 Galaxy Cluster – Another stunning image from Hubble

You are looking at one of the stunning images of the galaxy cluster Abell 3827 taken by the Hubble...

Russia produced the World’s First Covid vaccine for animals

Russia has produced the first batch of Covid vaccine for animals, said the country's agriculture regulator announced on Friday....

Scientists use liquid biopsy for finding residual cancer DNA

Cancer patients who go through surgery for tumor removal may occasionally require chemotherapy as there can be high chances...