The Impact of Economic Crisis Due to COVID-19 Pandemic

Abstract

COVID-19 is the communicable disease caused by the most recently discovered Corona Virus.2019 to at present World maximum countries are expiring COVID-19 and wide spread of the virus with number of variants already carried off a considerable amount of lives. All the affected countries have been looking for a safety precaution while few countries are researching the specific vaccine against COVID-19 but now the situation have gone out of hand due to lack of awareness and management. World Health Organization (WHO) announced global emergency condition and this review study comprehensively examines the impact of Corona Virus pandemic situation on GDP. Inflation stock market, employment, poverty and tourism in Sit Lankan context. This paper graphically explores that industry, agriculture and services sectors were affected harshly during pandemic. Moreover, COVID-19 situation affected on transport, hotel, Construction, tourism sector, apparel sectors while enhancing unemployment rate as to. Due to unemployment rate was increased while increasing this pandemic. Specially this review identified there three main Factors fluctuation of inflation rate throughout previous studies and also valid and timely evidences. Thus, Sri Lanka's economic condition is threaten, at a thigh risk. In that case, necessary and successful movements must be taken place to move ahead as a one nation during these pandemic situation and overcome economic issues.