The global economic impact of COVID-19: Three possible scenarios

Abstract

This theoretical paper aims at reviewing and forecasting the possible economic after-impact of COVID-19 worldwide. It is entirely based on published sources such as articles, online and print information (e. g. information published on newspapers, Internet and different TV channels). The long last economic impact this viral outbreak is yetto be known as such dreadful news will possibly show up only after once it slowed down or completely wiped out although some of them have already been visible. In this paper, the author predicts three possible scenarios that the world economy might face. He has also provided some action recommendations for the individual Governments and economic organizations in order to reduce (as such loss cannot be prevented completely) the after-effects of such deadly catastrophe that shows up once in a century. The paper is expected to assist as a baseline for further research attempts to be made regarding the economic impact of COVID-19 by the academicians and guide the policy makers to make some recovery plans.