The Impact of the COVID-19 Pandemic on Global Economic Growth: An Analytical Study

The COVID-19 pandemic originated in China and quickly spread to practically every country on the planet. Because there is no cure for the virus, countries are taking steps to prevent it from spreading. Many sectors, particularly the service sector, have seen significant reductions in activities, if not a full halt, due to these policies aimed at restricting human interaction. As a result, I will statistically assess the pandemic that has a significant impact on economic growth rates in both developing as well as developed countries. Without a doubt, the economy’s consequences will be determined by how long the pandemic lasts and when it returns to normal economic activity. The impacts of the COVID-19 pandemic on global economic growth are assessed in this paper.