The effect of the Covid-19 pandemic on the economy: the case of morocco

Abstract:

While at the beginning of 2020, the coronavirus pandemic was initially identified in an outbreak in the Chinese city of Wuhan, The novel virus then spread immensely to the rest of the world. To contain this health crisis, many countries have implemented containment measures that constraint people to limit physical interactions. These containment measures have caused an unprecedented economic crisis in peacetime. The restrictions constrained agents, spending, workers, movements, and international trade, causing a supply and demand shock that spread to the entire Global production lines.

To the detriment of economies around the world, more than 200 countries in the world have taken preventive measures to cope with the severity of the covid-19 pandemic, and according to the Asian Development Bank (ADB), the impact of the latter has been measured and located between 2 and 4.1 trillion dollars, in other words, from 2.3% to 4.8% of the world GDP, and the impact has been qualified by the International Monetary Fund (IMF) as the worst crisis since “The Great Depression” of 1929. For its part, Morocco has rapidly and strictly taken health and security measures to cope with the crisis and minimize the probability of its spread, and also undertook the challenge to support the population and the most vulnerable people affected by the crisis.  In the same sense, the purpose of this article is to understand the socio-economic impact of the covid-19 pandemic in our country, thus, a strategic note will be analyzed later, which was developed jointly by the High Commission for Planning (HCP), the United Nations System in Morocco and the World Bank (WB).

In this context, the following question emerges:

To what extent will the Covid 19 pandemic have an impact on the economic sectors? particularly nationally?

Keywords: economy, GPD, covid 19, pandemic, socioeconomic, crisis, development, social sobriety.