what is the
impact of Covid 19 on health and Economy?
Answers
Answer:
The coronavirus outbreak is a human disaster, affecting countless individuals. It is also having a growing impact on the worldwide economy. As the global economy heads towards recession, the economic damage is mounting over all nations, following the sharp rise in new infections, and containment measures put in place by governments. Almost every nation has reported cases of infection however, the burden is asymmetrically distributed. Some countries are at the peak of the viral spread and are immediately developing their health systems. In other parts of the world, the number of cases is rising rapidly. India too has witnessed a significant increase in the number of infections since the beginning of April and has advanced its response, including extending the nationwide lockdown.
The COVID-19 pandemic has left a deep imprint across different segments of the world economy and set off an unprecedented slowdown.
COVID-19 is not only a global pandemic and public health crisis; it has also severely affected the global economy and financial markets. Significant reductions in income, a rise in unemployment, and disruptions in the transportation, service, and manufacturing industries are among the consequences of the disease mitigation measures that have been implemented in many countries. It has become clear that most governments in the world underestimated the risks of rapid COVID-19 spread and were mostly reactive in their crisis response. As disease outbreaks are not likely to disappear in the near future, proactive international actions are required to not only save lives but also protect economic prosperity.