In: Economics
Impact of COVID-19 PANDAMIC, on Middle Eastern
assignment must not exceed 350 word count.?
Among the Middle Eastern countries, Iran is the highly affected of all, followed by Kuwait and Bahrain. As a result of the COVID – 19 Outbreak, Saudi Arab has temporarily locked down the entry to tourists ever those visiting to the mosques and other religious clusters. The countries among the Middle East that are presently free from the pandemic are Syria, Turkey and Yemen.
The biggest source of revenue and economic balance in Middle East is production of oil and its export. The sudden decrease in prices and demand for products especially crude oil, shortage in labour and a standstill in its production has majorly affected the working of the economy.
Corona Virus (COVID – 19) pandemic is causing a major imbalance to the economies of this region. Industries like, Chemical, Aviation, Tourism, E-Commerce, etc., have been shut down due to decreased global demand.
Middle East countries are observing a greater shock as oil export has been restricted due to travelling restrictions following the pandemic globally. As the Middle East countries are the biggest exporters of crude oil and decrease in its global demand has resulted a major imbalance for the countries.
More than 35,000 cases and 2,500 deaths have been discovered in the country. The production and manufacturing operations have been highly disrupted and investment plans are put on hold in different Middle East Countries. These adverse causes are the results of a slow down in business and consumer demand in economies in the region.
So, COVID-19 pandemic impacts are adverse in reality rather than to assume the consequences in some political and medical terms or under the guidance of the international organisations in this regards , it is not an issue , even it is not a topic of discussion, basically it is matter of reaction then the conclusions.
It is a situation where the spine of every country i.e. economy is destroyed completely whether it is a matter of Middle East or other sections of the world.