How do people support countries in coronovirus

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COVID-19 pandemic stunts the world’s economy while thousands of people become unemployed due to unprecedented quarantine measures

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The COVID-19 epidemic has changed the whole world. Deadly statistics are only part of the problem. Coronaviruses have stunted the global economy, while unprecedented quarantine measures have left thousands unemployed. Lack of isolation and stagnant incomes, fear of poverty intensify the mood of aggression, hopelessness and depressive disorder. Fortunately, many governments provide moral and financial support to their citizens in these difficult times. Here are the most obvious examples.

China

The first country in the world to impose quarantine due to coronovirus, local authorities are obliged to provide concessional loans to agricultural firms and small enterprises, to exempt from social insurance payments and to contribute to the reserve fund of corporate employers , To expand credit to small and medium enterprises. .

According to Reuters, the Chinese government is considering spending up to 2.8 trillion yuan ($ 394 billion) on local government special bonds to encourage infrastructure investment. The amount seems impressive, but in reality, it is an order of magnitude lower than the money allocated during the 2008 crisis.

The main target of financing is likely to be high-tech enterprises, such as large data centers, 5G infrastructure providers, charging stations for alternative energy vehicles, etc. The central bank will provide a line of credit of 1 trillion yuan to small lenders. The loan repayment terms will also be revised.

United States of america

In March, the United States announced that the total amount of investment in support of the economy destroyed by the coronovirus epidemic would be approximately $ 2.2 trillion. In April, citizens began receiving lump sum payments in the amount of $ 1,200 per person, plus an additional $ 500 per child. Those who are unable to receive money in their account will receive a paper check from the government.

Read the full article on the PAYSPACE magazine global website

Further investigation:

The fight against Coronavirus: what Ukraine is doing to support trade

What is a basic income: a panacea for an epidemic or an empty utopia


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