COVID-19 Pandemic. A Review Based on Current Evidence from Sri Lanka

Abstract

Pandemics are large-scale outbreaks of infectious disease that can extremely increase mortality and morbidity over a wide geographic area and cause significant social political and economic. Evidence suggests that the likelihood of pandemics has increased over the past century because of increased global travel and integration, urbanization and greater exploitation of the natural environment. The emergence and spread of infectious diseases with pandemic potential occurred regularly throughout history. Major pandemics and epidemics such as plague, cholera, flu, severe acute respiratory syndrome corona virus (SARS-CoV) and Middle East respiratory syndrome corona virus (MERS-CoV) have already afflicted humanity. The world is now facing the new corona virus disease 2019 (COVID-19) pandemic.

The sudden outbreak of COVID-19, originated in China in December 2019, struck the Sri lanka so hard affecting all the economic and daily activities of humans. This study aimed to investigate the impacts of COVID-19 on poverty, employment, gross domestic product, inflation, stock market, external sector performance, household income, tourism, Import & export, government revenue & Gross domestic product in the context of Sri Lanka. Further gradually describe the influence of industrial, agriculture and service sector. A global recession is likely to significantly reduce the demand for Sri Lanka’s exports, and lead to considerable job losses especially in the apparel sector. The closing of the Sri Lankan border for foreign passenger arrivals in mid-March, combined with global travel restrictions undoubtedly lead to further losses. Uncertainty will be part of the backdrop for the foreseeable future. Coherent, coordinated, and credible policy responses provide the best chance at limiting the economic fallout from what is already and sadly a human tragedy.