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The Economic and Social Impact of COVID-19 : Setting the Stage (Bósnio)

In Spring 2020, Western Balkan countries - like most others in the world—have been forced to impose tight restrictions on economic life to contain the COVID-19 (Coronavirus) pandemic. In the first half of 2020, the world has seen explosive growth of infections with the deadly novel virus. As country after country has been forced to shut down large areas of social and economic life to slow contagion, the Western Balkans have not been spared. The first cases were recognized as early as the first week of March. As of April 27, 2020, the Johns Hopkins corona virus data center now reports that over 11,000 cases have been confirmed in the six countries in the region. In response, all six have enforced lockdowns and strict social distancing measures. International airports in all countries were closed for passenger traffic. The initial lockdowns have been extended. The capitals of Kosovo and Albania are under quarantine, as are other cities in the region. Key economic sectors, such as restaurants and nonessential retail, have been shut down. Travel and social gatherings have been restricted or banned, and schools and universities have been closed.

Detalhes

  • Autor

    Kikoni,Edith, Schiffbauer,Marc Tobias

  • Data do documento

    2020/01/01

  • TIpo de documento

    Report

  • No. do relatório

    148086

  • Nº do volume

    1

  • Total Volume(s)

    1

  • Região

    Europa e Ásia Central,

  • Data de divulgação

    2020/04/30

  • Disclosure Status

    Disclosed

  • Nome do documento

    The Economic and Social Impact of COVID-19 : Setting the Stage

  • Palavras-chave

    state-owned banks; global financial crisis; monetary policy; foreign direct investment; public health crisis; currency board arrangement; drag on growth; global value chain; current account deficit; change in consumer; spread of infection; international financial institution; social protection spending; restrictions on travel; flexible exchange rate; take time; foreign currency reserve; financial sector reform; put pressure; Social Safety Nets; partial credit guarantee; net export; liquidity buffer; Fiscal policies; low employment; supply chain; fiscal policy; government restriction; social distance; recent years; international capital; Durable goods; goods export; fiscal space; liquidity constraint; aggregate supply; trade deficit; Economic Policy; Labor Market; unemployment rate; real sector; inclusive growth; Job Creation; wage policy; Public Spending; consumption growth; remittance inflow; investment rate; household lending; national authority; government budget; sectoral composition; contribution policy; public policy; external vulnerability; financing source; job destruction; Exchange Rates; private enforcement; Financial Stability; indirect credit; increased demand; foreign exchange; fiscal deficit; credit outstanding; international tourism; repo operations; crisis management; export subsidy; export subsidies; banking system; aggregate capital; higher deficit; external imbalance; informal employment; informal channel; advanced economy; limited resources; public debt; qualitative analysis; real gdp; travel restriction; support measure; secure financing; unemployment benefit; automotive part; productive capacity; lower demand; graphic design; financing need; passenger traffic; international airport; aggregate demand; commodity price; Extractive Industry; data center; health shock; economic sector; fiscal package; professional service; novel virus; interior design; trading partner; literary works; art exhibition; graphic designer; term of productivity; macroeconomic risk; color coding; indicator value; municipal election; viable business; liquidity shortage; parliamentary election; economic recovery; building form; worker's remittances; tight restriction; public finance; online sale; important share

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