Economic and Welfare Effects of COVID-19 and Responses in Ethiopia: Initial insights

Ethiopian Economics Association (EEA)
Degye Goshu, Getachew Diriba (Phd), Tadele Ferede

Executive Summary

The Novel Coronavirus, or COVID-19, pandemic is a global challenge that requires coordinated efforts from governments, individuals, businesses, and various stakeholders. The world economy is experiencing a historic and unprecedented shocks as the pandemic triggers a number of shocks simultaneously including health, supply, demand and financial shocks (Triggs & Kharas, 2020). Efforts by governments to control the COVID-19 pandemic through partial and full business closures unavoidably leads to general decline in economic activities domestically and globally. This contraction in economic activities leads to

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