Growth prospects in overseas countries post-pandemic

COVID 19 is lead to the halt of any movement in or between the countries for a number of days. That took the countries, consequently the whole globe towards the worst economic condition the world had ever seen in a decade. 

 

Short and Long Term Devastations

 

Intellectuals, Economists, and other authoritative individuals when come across a table, found the devastating effect of the pandemic both for short term that can be visualized or be seen, and long term too that will come after decades. The report generated there also discusses the prospects of growth for overseas countries.

 

Reports came with the conclusion that fastly, the government of the countries should come up with the recovery and supportive policies for the people, to shorten the tenure of lasting devastation due to pandemics.

 

An extensive decrease in per capita income

 

Pandemic also leads to the reason for the recession for most of the countries across the globe in 2020. Also, the stats were depicting that the average per capita income in every country is contracted to that of 1870. Advanced economies have the larger deprivation compared to developing countries, as they can cope with the outbreak on their own.

 

Prospects of Long Term Growth:

 

As the coping action against the pandemic now the sustaining and long term growth is the necessity instead of development. If it is not viewed with concerning eyes situation will move to even more worse states. Now the time to practically implement the statement “Make pandemic as the opportunity”.

 

We have also been the witness of a sudden fall in oil prices worldwide, but if this is can be seen as an opportunity, definitely come up with greater outcomes. Like lower oil prices will provide a strong and efficient initial rise to the production department of organizations as when the conditions were lifted. Oil produces can also convert it as an opportunity by diversifying the economies.

 

Authorities and administrations at the countries level need to announce small fiscal packages to suddenly cope up with the short-term problems. Long term impact should be treated by forming the especial long term programs that takes out the effect of pandemic.

 

Money should be directly entered to pockets of the residents will act as a boom and milestone. Essential Services are also be viewed so that black marketing of them can be prevented in all ways.

 

Conclusion:

 

Also, at the final points, we should primarily should not forget the pandemic. All the measures should be taken with good intention instead of political or social pressure. Because at the end if we talk in layman’s money is for society, society is not for money. So the very first responsibility of each and every country is to cooperate with each other and make the united efforts to fight with the new unknown enemy.

 

Developed Countries should initiate the first help from their side to the developing or underdeveloped countries or areas, and also combined practices will help in stopping the spread of unseen monsters.