Economic impact of Covid 19 in Albania
For more than two years the world has faced a new enemy called Covid -19 with a huge and tremendous impact on the global economy and on our lives too. It is not only an emergency for public health but has caused an increase in insecurity and mobility which has brought significant changes in the economic structure affecting the real and financial sectors. The coronavirus disease is attacking the societies and economic foundations of countries.
The coronavirus called Covid -19, with the first infections appeared in the Chinese city of Wuhan December 2019, and has infected more than 638,556,765 people in at least 228 countries and territories globally, according to the World Health Organization. The spread of this coronavirus is spreading fast and has become one of the biggest threats to the global economy, financial markets and lives of the people. It is a fact we have 6,607,403 deaths globally, we have ruined families, children left alone and parents which have lost their children’s.
Measures taken by governments have brought positive and negative effects. Due to social distancing, businesses and society have remodeled the way they operate by reconceptualizing the practice of service, consumption, investment to enable the continuation of economic and financial activity. Although in the face of a difficult situation and with many unknowns, individuals and businesses responded to the established conditions by facilitating progress and economic and social activity.
Covid 19 has changed our way of thinking, daily habits and has brought a fundamental issue to deal with, which is how we will pass and overcome all the implications and problems that has brought.
Global spread of coronavirus has significantly restrained the economy worldwide, causing a dramatic drop in economic growth, FDI flows and investments, consumption, inflation etc
From this perspective, I would like to analyze the impact of COVID-19 on the global economy and the relevant medium- and long-term challenges, with a particular focus on Albania.