Economic crisis and coronavirus can leave millions of people unemployed

2020-03-24

According to Elena Dobova, Vice President of the Chamber of Commerce and Industry, up to 8.6 million citizens may lose their jobs because of the coronavirus, and about 3 million entrepreneurs will lose their business.

Coronavirus and economic crisis can leave millions of citizens without work
Coronavirus and economic crisis can leave millions of citizens without work

Such conclusions were reached after a survey of small business owners who, due to lower demand and due to closure of borders, are losing customers.

The situation in other countries is quite sad, too. In Italy, where the pandemic situation has reached a critical point, the production of industrial enterprises has been suspended. Countries whose earnings depend heavily on tourism have also been hit hard.

It would seem that difficult times should give some kind of unity of people, but no – speculators resell medical masks at prices that are several times higher than in pharmacies, but pharmacies are practically empty. Amulets and home tests for coronavirus are sold through online stores.

The authorities are trying to smooth the situation through financing and indulging business. However, all this is happening in the wake of the impending economic crisis. How ready is capitalism to cope with two problems at the same time, considering the fact that it is failing to stop the virus outbreak? But the even more important question is whether or not the working people are willing to endure yet another impoverishment when paying for the oligarchs, and whether the Communists are ready to offer an alternative that will guarantee financial and physical security.