Vol. 7, Issue 4 (2020)
Health and economic shocks of COVID-19
Author(s): B Suresh Lal
Abstract: The novel coronavirus is both something old and something new. As usual, the pandemic is both health and economic shock, but the fact that it has hit China first and hardest, and its impact of health and economy broadly. This paper examines the origin and historical back occurrences of the diseases. It focuses on the demand and supply of medical resources available to victims of COVID19 and statistical forecast. Several confirmed cases and deaths took place up to April 10, 2020, in top-ten most affected countries by the disease. The top-ten countries are USA, Spain, Italy, France, Germany, China, UK, Iran, Turkey and Belgium. The pandemic impact on expected 6.7 per cent of working hours will be wiped out. Almost 1.25 billion workers are at high risk of drastic devastating increases in layoffs. The informal sector, daily wage earners, migrants, will be drastically affected and suggested proper mitigation plan.