The impact of the COVID-19 Pandemic on the Hungarian economy
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| Dokumentumtípus: | Diplomadolgozat |
| Kulcsszavak: | COVID-19 depresszió gazdasági élet home office Magyarország pandémia |
| Online Access: | http://dolgozattar.uni-bge.hu/28713 |
| Kivonat: | THE IMPACT OF THE COVID-19 PANDEMIC ON THE HUNGARIAN ECONOMYThe coronavirus currently is playing a key role in our lives. It has an extremely large impact on both society and the world’s economy. The new infectious disease caused by the coronavirus is called COVID-19. Previously, this virus strain was unknown and then identified in December 2019 in Wuhan, China. The virus causes a respiratory illness similar to the flu, and its symptoms are a cough, fever,and in more severe cases, difficulty breathing. (WHO TEAM, 2020) Due to the emergence and rapid spread of the COVID-19 virus, we can speak of an unprecedented crisis. The global economy could suffer $ 4.1 trillion in losses from the coronavirus, according to the Asian Development Bank, which is 5% of global GDP (HEPA,2020), and that amount could increase due to the unpredictability of the virus spreading. As a result of a pandemic, economic activity starts to fall sharply and for a long time. In the first phase, I examine the pre-epidemic Hungarian economic situation since the last crisis recovers, and then I am going to examine the COVID-19 epidemic period. The world economy has significantly transformed in the last ten years. It has been felt in recent years that countries have not been able to fully digest the 2008 global economic crisis. Since the pandemic caused by the virus, the world economy has suffered enormous damage. According to analysts, the most serious effects are the following: In addition to the loss of hundreds of thousands of jobs, hospitality and tourism have also suffered huge losses. The construction industry was in a difficult position and car production stopped during the first wave. To address this, regulations have been created, a worldwide curfew has been imposed, borders have been closed and travel has been restricted. My dissertation aims are to map the Hungarian economic situation changed by the coronavirus, to present and compare the economy with the 2008 crisis, and its aftermath. Examining these, I seek answers about the decisions made by the Hungarian government and the effects of the decisions and their effectiveness. After that, I compare the measures taken in Hungary with the decisions of the Austrian government. Finally, I examine the changes and measures taking place in the Hungarian sectors. |
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