THE IMPACT OF COVID 19 ON THE GLOBAL ECONOMY
Keywords:
Covid, pandemic, recession, international market, financial instrumentsAbstract
The paper is devoted to the analysis of the impact of the Covid pandemic on the economies of different
countries. Given that recession is the key economic consequence and at the same time a unique trigger of negative
cause-and-effect events in economic flows at the global level, its uniqueness is reflected in the specifics of the
recession with the shock of aggregate supply and demand. Covid pandemic affected both the economic policy itself
and its effects which are difficult to assess due to inability of precise determination when it comes to the intensity
and duration of recession. All the economic instruments used until the outbreak of the pandemic proved to be
ineffective when it comes to Covid. The socio-economic consequences of the Covid-19 pandemic were analyzed
and forecasts of a decline in GDP in countries around the world according to different scenarios were made. From
the aspect of the impact of the Covid 19 pandemic on markets of developing countries and forecasts of economic
development opportunities in conditions of limited measures that were introduced, an analysis has been conducted
and the problem identified was that it is not possible to predict the intensity and consequences of the future Covid, as
this virus changes its characteristics. Easing the economic consequences of Covid 19 requires greater activity of
macro-economic policy and institutional reforms to ensure sustainable growth and prevent similar economic shocks
in the future.
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Сања, Ј. Т., & Ана, Ј. Л. (2020). ЕКОНОМСКЕ ПОСЛЕДИЦЕ КОВИДА 19 И МЕРЕ ПОДРШКЕ ПРИВРЕДИ РЕПУБЛИКЕ СРБИЈЕ, Зборник радова са националне научне конференције "ЗАРАЗНЕ БОЛЕСТИ КАО ГЛОБАЛНИ БЕЗБЕДНОСНИ ИЗАЗОВ ПАНДЕМИЈА COVID-19: СТВАРНОСТ И ПОСЛЕДИЦЕ", Факултет за безбедност, Универзитет у Боеграду.
