The Socio-Economic Ramifications Resulting from the Outbreak of the Coronavirus Pandemic (COVID-19)

The global impact of the COVID-19 pandemic has been staggering, with over 4.3 million confirmed cases and over 290,000 deaths reported worldwide. In addition to the public health crisis, the pandemic has caused significant economic disruption, leading to fears of a global recession. The implementation of measures such as social distancing, self-isolation, and travel restrictions has resulted in a reduced workforce across all economic sectors, leading to a rise in unemployment rates. Furthermore, the closure of schools and reduced demand for commodities and manufactured products has further impacted the economy. Conversely, the demand for medical supplies and food products has significantly increased. This paper provides an overview of the socio-economic effects of the COVID-19 pandemic on individual aspects of the global economy