Economist: Countries with stronger education and health systems to get over corona crisis

Dr. Al-Desouqi said in an exclusive interview with Hawar News Agency, that the world is having an unprecedented economic recession and weak production in all fields especially in the tourism and aviation sectors, which were completely halted.

He pointed out that the economic crisis depends on how long the Corona pandemic will take, and continued "According to the IMF, the world is already in recession, in the sense that the sales rate and production are in constant decline; so the volume of demand and supply has become low "This is a natural consequence of suspending many companies, factories, the movement of people and the slow movement of goods between countries."

Accordingly, Dr. Desouqi believes that there is a rise in unemployment worldwide, especially since a large portion of people were working for the private sectors, and a large part of the workers in the formal sectors have been discarded.

Dr. Desouqi is not for the news that the European Union is expected to break up as a result of this crisis. He believes that this epidemic requires greater coordination and cooperation between states, saying, "There is a physical divergence between individuals and states, but there is a social convergence for the exchange of medical information and the invention of medicines. There are some French cases were treated in Germany."

Dr. Desouqi stressed that what applies to the world is applicable to the Arab region, but in the Arab region the crisis will be greater because the developed countries have a stock of economic forces, whether in the sectors of industry, agriculture or even services.

"The Arab region is much weaker in these activities, so the crisis impact on them will be greater, but this depends on the average of the virus outbreak. So far the infections and deaths rate in the Arab region is lower than the European countries, but if the number of infections such as Europe and America increases, our crisis will be even greater."

He noted that the World Monetary Fund's aid budget for the affected and poor countries is not enough to cope with the Corona epidemic, because combating the epidemic needs very large funding within these countries as their health systems are so weak.

He explained that the world will witness rise for new economies at the expense of others already in place "The economic powers are strong with education, health and scientific research ,"  he said

referring to the most significant losses of the global economic system to date, Dr. Desouki said, "Production has generally declined in all fields, particularly in the tourism, aviation and air transport sector has been completely disrupted."

 Dr. Ihab Al-Desouki, the professor and head of the economics department at Al-Sadat Academy, said that this war is against unknown enemy and the world does not yet have the tool to confront it, especially in the absence of a real cure for it.

ANHA