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The Horrors of COVID-19 and the Recent Macroeconomy in Ethiopia

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  • Nasir Ababulgu Abasimel

    (Wollega University)

  • Hika Wana Fufa

    (Wollega University)

Abstract

This review paper is emphasized on COVID-19 and macro-economy like GDP, unemployment, inflation and macro-economic policy in Ethiopia. The COVID-19 pandemic represents an unprecedented global crisis. Even if the spread of COVID-19 is suppressed in Africa, its economic damage will be unavoidable. In spite of the fact that COVID-19 was less expanded during the last 3 months, the Ethiopia economy showed a significant shock and drastically reduced in major macroeconomic variables. A 25-30% drop in exports of goods and services during 2020 is possible.COVID-19 will have a two-fold fiscal impact, pulling in opposite directions. Hence, there is a need to re-bounce back the economy while keeping our peoples safe from the pandemic, COVID-19.

Suggested Citation

  • Nasir Ababulgu Abasimel & Hika Wana Fufa, 2022. "The Horrors of COVID-19 and the Recent Macroeconomy in Ethiopia," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 13(1), pages 305-320, March.
    • Handle: RePEc:spr:jknowl:v:13:y:2022:i:1:d:10.1007_s13132-020-00713-6
    DOI: 10.1007/s13132-020-00713-6
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    1. Alok Bhargava & Dean T. Jamison & Lawrence J. Lau & Christopher J. L. Murray, 2006. "Modeling the effects of health on economic growth," World Scientific Book Chapters, in: Econometrics, Statistics And Computational Approaches In Food And Health Sciences, chapter 20, pages 269-286, World Scientific Publishing Co. Pte. Ltd..
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    3. Warwick McKibbin & Roshen Fernando, 2021. "The Global Macroeconomic Impacts of COVID-19: Seven Scenarios," Asian Economic Papers, MIT Press, vol. 20(2), pages 1-30, Summer.
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    Cited by:

    1. Lucia Svabova & Eva Nahalkova Tesarova & Marek Durica & Lenka Strakova, 2021. "Evaluation of the impacts of the COVID-19 pandemic on the development of the unemployment rate in Slovakia: counterfactual before-after comparison," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 16(2), pages 261-284, June.

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