Consequences of COVID-19 (Ahram Online)

Ahram Online (Egypt) published an article on how the COVID-19 pandemic has impacted the global economy and labor markets.  According to an IFPRI report, “Covid-19 could reduce national GDP by between 0.7 and 0.8 percent (LE36 to LE41 billion) for each month that the global crisis continues. Similarly, household consumption and expenditure are estimated to decline on average by between LE153 and LE180 per person per month.” A report published by the Ministry of Planning and economic development and IFPRI said that mounting job losses are especially evident in sectors that have been highly impacted by supply and demand fluctuations as a result of Covid-19, such as “hotels and restaurants, sports and recreational activities, household workers, and industry.”