According to the World Economic Outlook published by the International Monetary Fund in April, the global economy is expected to shrink by 3.0 percent by 2020 due to the global corona epidemic. Similarly, according to the Central Statistics Office, Nepal's economic growth is projected to be limited to 2.27 percent this year. Even if we analyze the situation so far, this epidemic is killing millions of people in the world. Millions of workers are losing their jobs. Billions are starving and in food crisis. Due to which the world economy is once again suffering.

The closure of Covid (19) has paralyzed all sectors including industry, factories, trade and business. .

According to a new report released by the Asian Development Bank, the Corona shutdown is projected to cost the global economy 88 trillion dollar. The projection is based on estimates of Corona's effects lasting a maximum of six months, according to the ADB.

The European Trade Union Confederation estimates that the Corona shutdown has added at least 4 million people to unemployment in EU countries alone. The impact of unemployment is greater in developing countries like ours, which have an informal economy and a predominance of insecure workers. At this time, workers and businesses in both developed and developing nations are in crisis.

According to the International Labor Organization (ILO), the global labor market is in dire straits, affecting nearly 80 percent of the world's labor force, or more than 2.7 billion workers. Is

According to the ILO, the Gulf countries will face double economic problems. These countries are likely to go into recession due to the problems caused by internal sanctions and the sharp fall in oil trade and prices due to global sanctions.