DMPQ- CONVID-19 has caused a fall in production and decline in demand. Comment on the economic uncertainty due to CONVID-19.

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World economy is expecting a slow down due to the spread of COVID-19 in around 115 countries. WHO has recently termed the COVID-19 pandemic and US has termed it as emergency situation. As a result of the virus spread global economy is facing serious situations like:

  1. Travel and trade have been severely affected in the large parts of the world, with restrictions on movement and cancellation of visa. Subscribe on YouTube
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  • Crude oil prices also began dropping due to fears of global recession and drop in demand of energy.
  • China is the epicentre of outbreak and this slowdown is affecting the global supply chain. Phrama, electronics and automobiles sector are the worst affected.
  • Although inflation is low but the aggregate demand and investment is low. There is no increase in demand due to decrease in inflation.

    • The uncertainty is on rise as most of the economy are deciding to become close economy which will affect the global trade. Low crude oil price is

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    going to affect the economies of the major oil supplier (OPEC). The economy was yet to get out of the global financial crisis but this COVID-19 will add more lag in the economy.

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