Impact of Corona Virus on African Economic Growth

Authors

  • Abeer Mohamed Abdel Razek Youssef Faculty Member, Pharos University in Alexandria (P.U.A), Alexandria, Egypt

Keywords:

COVID-19, Total Exports, Africa, Health Care, Education, External Trade, Financing, Mass Unemployment

Abstract

The COVID-19 crisis is affecting the entire world economy and that of Africa. Some key sectors of the African economy are already experiencing a slowdown because of the pandemic. Tourism, air transport, and the oil sector are visibly impacted. The exogenous effects come from direct trade links between affected partner continents such as Asia, Europe and the United States; tourism; the decline in remittances from African Diaspora; Foreign Direct Investment and Official Development Assistance; illicit financing flows and domestic financial market tightening, etc. The endogenous effects occur because of the rapid spread of the virus in many African countries. On one hand, they are linked to morbidity and mortality. On the other hand, they lead to a disruption of economic activities. This may cause, a decrease in domestic demand in tax revenue due to the loss of oil and commodity prices coupled with an increase in public expenditure to safeguard human health and support economic activities. This study aims to evaluate the potential impact of the pandemic on various dimensions of African economies, the impact on the African economy is presented, with a discussion of some of the key measures being taken by African Union to mitigate the negative effects.

References

W. McKibbin and R. Fernando, “The economic impact of COVID-19,” Economics in the Time of COVID-19, Vol. 45, 2020.

António Guterres, “COVID-19 in Africa: Protecting Lives and Economies, Economic Commission for Africa, Addis Ababa,” Ethiopia, pp. 1-48, April 2020.

P. K. Ozili, “COVID-19 in Africa: socioeconomic impact, policy response and opportunities,” Policy Response and Opportunities, April 13, 2020.

UNHAPITAT, “Covid-19: Socioeconomic Impacts on Africa,” Discussion Paper, pp. 3-4, 09 April 2020.

Brahima Sangafowa Coulibaly and Payce Madden, “Strategies for coping with the health and economic effects of the COVID-19 pandemic in Africa,” Wednesday, March 18, 2020. [Online]. Available: https://www.brookings.edu/blog/africa-in-focus/2020/03/ 18/strategies-for-coping-with-the-health-and-economic-effects-of-the-covid-19-pandemic-in-africa/?fbclid=IwAR2rCimcl2aTsJbir9PMsYT m7P0FbJ5KvUTo2IDIu_jZk-PLbG92Iq8RkFw.

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Published

15-05-2021

How to Cite

Abdel Razek Youssef, A. M. (2021). Impact of Corona Virus on African Economic Growth. Asian Journal of Science and Applied Technology, 10(1), 27–31. Retrieved from https://ojs.trp.org.in/index.php/ajsat/article/view/2815