Economic Impact of COVID-19: A Historical Trail

Abstract

In the article, the author focused on the global technology forum: The Covid-19 pandemic and quarantine will cost the world dearly: the corona crisis has already begun and is predicted to be the most devastating crisis of the century. The economic downturn will inevitably affect all countries in the world. The restrictions imposed due to the coronavirus led to a decline in the consumer services sector: the volume of paid services provided to the population decreased by more than a third. World economists expect that in the second quarter of 2020, the decline in trade turnover will slow down as restrictive measures are lifted. Now the main task of the world's states will be to overcome this pandemic and economic crisis without a disaster. The economic crisis has already led to an increase in unemployment. Rising unemployment could lead to hunger and crime in the future.