COVID-19 emerged out of nowhere and like a tsunami devastated the whole planet. We cannot yet perceive the aftermaths, we can only speculate about them, but we are about to face them both in economic and in every other sense of the word.
The forecasts are that the economic growth everywhere in the world will be much lower than the planned one. Certain branches of industry have been hit really hard and the question is how much time they will need to recover. This applies mostly to the air travel industry, tourism and catering industry. The estimates go that the air transport will lose over USD 100 bn. A huge economic damage was made in the first quarter to all the companies which dealt with China, and this damage followed the expansion of COVID-19 throughout the planet.
The majority of the world governments have undertaken certain measures to alleviate the effects of the crisis. For example, South Korea has announced a package of various measures in the amount of app. USD 10 bn.
We are witnessing the recovery of the Chinese economy after the pandemic. The fact is that China is the greatest exporter in the world and that their recovery means a lot, but it will be enormously important that other economies do not stumble either. Germany has announced the increase of public investments, but the economy pressures for additional aid. The French government has postponed tax collection and other liabilities. Italy has also been taking different measures to protect its citizens and the economy. The Bank of England has decreased interest rates by 0.5 percent.
What are the implications of this tsunami to our businessmen both in the country and abroad? To which extent has COVID-19 already affected the business operations, work procedures, employees? This is what our interviewees from different industries inform us about. Through these interesting interviews we wanted to give you a comprehensive picture of what is happening both in our country and in the region.
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