How the Covid-19 Pandemic Affects Sustainable Development: The Impact on the Social, Economic and Energy Parameters of Sustainable Development

Abstract

The Covid-19 pandemic has been a challenge for all countries of the world. Although the most negative impact was on public health, the pandemic also caused damage to the economic, social and energy sectors. The research puts forward a hypothesis about the differentiation of countries due to the impact of the Covid-19 pandemic on the economic, social and energy parameters of sustainable development. A negative impact on indicators such as GDP, the number of unemployed, electricity generation was identified. The following methods were used in the article to analyze the impact of the Covid-19 pandemic on the economic, social and energy parameters of sustainable development: systems analysis, deductive approach, regression and correlation analysis and extrapolation. Theoretical and empirical research show that the economies of countries were not ready for the negative transformation processes caused by the quarantine restrictions. The after-effects of the pandemic will manifest themselves for the long period without concerted action of governments, businesses and the international community. It will negatively affect the social and economic development of countries and undermine the progress towards achieving the sustainable development goals until 2030. This article will be useful for researchers, political elite and international organizations while developing the anti-crisis programs and programs for the social and economic development of the countries.