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6/28/21

COVID 19 AND IT EFFECTS ON THE ECONOMY

 



COVID 19 AND AND IT EFFECT ON THE ECONOMY


The COVID 19 came and ravage the world while the people were not ready for such shock, it came whit different challenges making house holds vulnerable to ECONOMIC hardship which result to low standard of living, poor health facilities and malnutrition. Nation in the globe were affected severely due to the noble COVID 19 virus, some of the effect of virus may include the following.

1.LOST OF JOBS; 

Jobs were lost during  the global pandemic, individuals were not able to access their source of income because of the lock down which affected the transport system for those who depend on the activities the transport industry for their daily bread etc.


2.OVER STRETCH HEALTH FACILITIES

The hospitals equipment were overwhelm due to influx of infected patients who were in  emergency situation . the COVID 19 Cases kept increasing day by day. Also the health workers were not equivalent to the sick people who were waiting for medication. The  doctors tried their best but is was not enough to meet up with the current challenges.

3.DECREASE IN REVENUE

The revenues collected by government around the world reduced drastically due to the COVID 19 virus because there was no economic activities for this  goal to be achieve for most countries the hard to borrow to meet up with palliative for their citizens for food and basic essentials needed at house hold levels. Government workers were not going to their offices to generate revenue for the  government .

  

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