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Scholars Journal of Economics, Business and Management | Volume-8 | Issue-01
“COVID-19 Pandemic: Economy Down, Poverty up in Bangladesh”
Shahana Akter Shamme, Imran Khan, Faizun Nesa, Abdullah Yahia Khan
Published: Jan. 9, 2021 | 129 94
DOI: 10.36347/sjebm.2021.v08i01.001
Pages: 1-9
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Abstract
Since the outburst of Covid-19 in China, the world economy is passing in a turmoil situation. Undeniably the economy of Bangladesh is also grappled by the severe public health crisis of the Covid-19. As the public health emergency is heavily interconnected with economic affairs, it has impacted each of the pillars of the economy of Bangladesh. So affects of low income, middle income and all industrial servant holders. The global health crisis caused by COVID-19 has hit Bangladesh's economy hard and jeopardized the country's impressive achievements in poverty reduction. The main purpose of this paper is to make evaluations of the potential impact of the COVID-19 pandemic on the economy down, poverty up in Bangladesh. This study is based on an empirical review of the recent study works, reports, working papers of home, and abroad regarding economic crisis. The review findings of the paper revealed that the COVID-19 pandemic have significant impacts on the different indicators of the economy of Bangladesh especially, Readymade Garments Sector, Foreign Remittance, Bank and Financial Institutions, Food and Agricultures, Local Trade, Foreign Trade (Export and Import), GDP (Gross Domestic Product), SDGs (Sustainable Development Goal), Government Revenue, Employment and Poverty Levels etc. This study suggested that as Covid-19 still surfacing all over the world so some steps should be ensured by the government agencies of Bangladesh to mitigate possible threats for the economy.