It must be emphasized at the outset that the spread of such viruses and their transformation into epidemics in this way, is something that is not strange or exceptional in the era of globalization. The World Health Organization annually receives more than 5,000 early reports of epidemics around the world. The global economy also bears an annual cost ranging between $500 billion and $570 billion due to epidemics, according to estimates by the International Monetary Fund and the World Economic Forum, a value that represents about 0.7% of global GDP, and it is equivalent to the cost incurred by the world due to the crisis of change. climate every year. Therefore, the new Corona epidemic is only a new epidemic added to the global epidemic record of the World Health Organization, and its risks to the global economy are likely to recede soon.

In a study prepared by the World Bank, it indicated that the spread of epidemics and diseases costs the global economy about 570 billion dollars annually, or equivalent to about 0.7% of the volume of global gross domestic product, but the economic impact of the new Corona virus remains subject to the developments of efforts to prevent its spread, which are being rapidly taken by various countries.

One of the downsides to the spread of the epidemic is that most of the world, with its various sectors, has proven that it is not fully prepared or thoughtful to face emergency global crises (such as the Corona virus), as many sectors do not have an emergency plan to manage crises. With the emergence of the Corona crisis, the time factor is the most expensive, as until now the world has not been able to determine the financial and economic cost of the spread of an epidemic due to the lack of a specific time to eliminate the virus, so all future economic expectations are on the table and all risks and losses are under consideration.

On the other hand, with the spread of the ferocious virus, it appeared that many health sectors of economically advanced countries were not ready to face emergency health crises, and this led to the loss of many lives.

Thousands of factories in the world also incurred huge losses to close their doors, airlines stopped, and therefore huge losses in the global tourism sector, the collapse of stock exchanges and stock markets, and the fall in oil prices, complete paralysis in all economic aspects, and countries depended on their savings, strategic reserves and rescue packages to continue moving the wheel collapsed economy.

However, in the midst of this economic collapse, many economists see the situation on the contrary. Strong economies before Corona can absorb this shock, especially if the epidemic does not last long and return to rise again, especially China and America with rescue packages and its strong capital companies, as well as another side of economists sees In the midst of the crisis, there are positive and reassuring economic indicators.

In a quick response to the spread of the epidemic, central banks in many countries decided to reduce interest rates to reduce the cost of borrowing, thus encouraging spending, and then strengthening the state of the economy. From 80 million medical masks in the first two days of the spread of the epidemic, and video companies via the Internet have achieved unprecedented profits, due to the demand for them by those who stay at home for entertainment and fun during isolation.

The sound of guns and bullets subsided in more than one region witnessing conflict in the world, as well as an increase in international cooperation between countries to curb the spread of the epidemic, especially helping the poorest countries, and the practice of remote activities, such as education and work, became among the main methods that countries resorted to to confront the repercussions of the spread of the virus. , Attention to the neglected health sector in developing countries for several decades, as well as highlighting the importance of the role of doctors, science and scientists, limiting daily workers and paying attention to their suffering, who are always neglected... Finally, perhaps the biggest beneficiary from the spread of the virus was the environment. The quarantine system, imposed by many Due to the spread of the Corona virus, it has had a positive impact on the environment by reducing air pollution.

This was a quick overview of the impact of the epidemic on the economy in the world, which we hope to God Almighty to end the crisis as soon as possible and life will return to normal again.