The Impacts of Novel COVID-19 on Arab Economies

تاريخ الاستلام: 12/08/2020 تاريخ القبول: 17/05/2021

Abstract

The rapid outbreak of the novel Covid-19 caused a mass public health emergency, which prompted the countries to respond with precautionary measures to contain the spreading virus, such as closing workplaces, reducing working hours, and restricting the movement of people and economic resources. Those measures resulted in an exceptional and severe economic shock after the cessation of many economic activities and a severe decline in others, which led to the collapse of demand, the decline in investment, the contraction of trade, the spread of economic stagnation in Arab countries and the collapse of the prices of raw materials in global markets. To alleviate the economic shock left, governments and central banks in the Arab countries intervened with an important financial and monetary stimulus package. The present paper aims to shed light on the impacts of the Covid-19 on Arab economies by highlighting the most important economic indicators, in addition to the various policies and measures that governments and central banks in the Arab countries have responded with to deal with the negative economic repercussions.