The Impact of the COVID-19 Outbreak on the Socio-Economic Issues of the Black Sea Region Countries

Abstract

The COVID-19 appeared in Hubei Province (China) at the end of 2019 and it was assessed as a global pandemic in March 2020. Because of pandemic radically transformed the existing reality and created a completely new Pandeconomic (economic, social and political) challenges to the world. There were restricted international air, land and sea traffic, as well as domestic traffic, cultural and sports events, social events and economic activities as part of the activities taken by the states against the spread of the virus. The aim of the research is to study the impact of the current pandemic situation on the socio-economic issues of the Black Sea Region countries. The paper systematically analyzes economic processes of the Black Sea Region countries in the domestic and international context. In addition, the analysis of the planned anti-crisis activities outlines future prospects and develops recommendations. It is likely that the crisis caused by the pandemic will last longer than COVID-19 itself. Consequently, the results presented in the study and the recommendations developed based on the research have a practical purpose in eliminating the Pandeconomic crisis.