Coronavirus Disease 2019 (COVID-19) Pandemic and Economic Impact

• Published in: Pakistan journal of medical sciences Vol. 36; no. S4; pp. S73 - S78
• Main Authors: Ahmad, Tauseef, Haroon, Baig, Mukhtiar, Jin, Hui
• Format: Journal Article
• Language: English
• Published: Karachi Knowledge Bylanes 31.05.2020; AsiaNet Pakistan (Pvt) Ltd; Professional Medical Publications
• Subjects: Communicable diseases; Coronaviruses; COVID-19; Disease transmission; Economic aspects; Economic growth; Economic impact; Epidemics; Factories; Fatalities; Genomes; Health facilities; Holidays & special occasions; Mortality; Pandemics; Public health; Quarantine; Researchers; Review; Severe acute respiratory syndrome coronavirus 2; Taxonomy; Tourism; Viruses; World health; China
• ISSN: 1682-024X; 1681-715X
• DOI: 10.12669/pjms.36.covid19-s4.2638

SUMMARY In less than two decades, the world has experienced three outbreaks of deadly Coronaviruses, including the recent pandemic of Coronavirus Disease 2019 (COVID-19) in China. COVID-19 posed an emergency of international concerns, and cases have been reported in more than 200 countries/regions that resulted in health, lives, and economic losses. China's economic growth is projected to fall to 5.6% this year, the International Monetary Fund (IMF) projected that policy investment and tax policies to implement $3.3 trillion and contributes further $4.5 trillion. IMF forecasts grow from 3.7% of global gross domestic product (GDP) in 2019 to 9.9% in 2020. GDP ratio projected from 3.0% in 2019 to grow 10.7% in 2020, the US ratio expected to increase from 5.8% to 15.7%. France, Germany, Italy, Japan, and the United Kingdom (UK) each reported public sector funding programs totalling > 10% of their yearly GDP. There is a dire need for regional and international co-operation to extend hands to prevent further spreading of COVID-19.