Business Commons^™

Pandemic And Economic Crisis In Society, Plamen Iliev

UBT International Conference

We still don't know how badly the current crisis will hit the economy. But despite or precisely because of the looming severe recession and economic crisis, fragmented and divided societies until yesterday can heal thanks to a hitherto unexpected injection - solidarity. The global scale of the health crisis and its economic epicenter in EU and euro area countries is creating additional external pressure on disrupted global supply chains. Economic uncertainty caused by the uncertainties surrounding the development and duration of the pandemic and rising unemployment are prerequisites for shrinking domestic consumption, mainly to basic necessities, which is reflected in …