{"id":8838,"date":"2020-05-17T15:00:28","date_gmt":"2020-05-17T15:00:28","guid":{"rendered":"https:\/\/www.africa-press.com\/tanzania\/?p=8838"},"modified":"2020-05-17T15:00:28","modified_gmt":"2020-05-17T15:00:28","slug":"lets-now-think-of-post-covid-19-economic-recovery-approaches","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/culture-and-art\/lets-now-think-of-post-covid-19-economic-recovery-approaches","title":{"rendered":"LET\u2019S NOW THINK OF POST-COVID-19 ECONOMIC RECOVERY APPROACHES"},"content":{"rendered":"
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AfricaPress-Tanzania:<\/strong> THE coronavirus (Covid-19) pandemic has plagued the world in various ways and almost all countries have been affected.<\/p>\n

Each country has taken its own approach and at the same show solidarity with other countries to mitigate the pandemic\u2019s effects.<\/p>\n

Besides being a pandemic, coronavirus is also creating opportunities that if well-utilised will help the world, including African countries, start rebuilding their economies that have been also affected to a considerable extent.<\/p>\n

The World Bank (WB) predicts Africa\u2019s first recession looms large. However, other sources suggest that \u2018the African continent can eventually look forward to many post-Covid-19 recovery and growth narratives.\u2019<\/p>\n

In Tanzania in particular, the economy is on track, registering an average of 7.0 per cent growth for the second year in a row since 2018.<\/p>\n

This is according to Minister for Finance and Planning, Dr Philip Mpango, as he was tabling 12.39tri\/- budget estimates and expenditures for the fiscal year 2020\/21.<\/p>\n

This puts Tanzania second after Rwanda that recorded a GDP growth rate of 9.4 per cent and ahead of Kenya and Uganda which registered 5.6 and 4.9 per cent recently.<\/p>\n

Africa has been reported one of the fastest-growing economies in the world. But with the coronavirus pandemic, many sectors of the economy have stalled. One of them is the aviation industry.<\/p>\n

Many countries across the world implemented lockdowns to mitigate the effects of the pandemic and international flights were suspended. As a result, airlines have incurred substantial losses.<\/p>\n

Not only this, lockdowns have also led to losses of other jobs. For instance, the closure of schools, colleges and universities had an adverse impact on catering businesses.<\/p>\n

There are many examples to show how the pandemic has affected humanity. We do not know when it will end although some countries are thinking of lifting of their lockdowns.<\/p>\n

What is needed is to plan how to rebuild world economies as we are still wrestling with Covid-19. The reason is simple. It is not known when it will be eradicated for all.<\/p>\n

This is so because some countries which have recorded some strides in controlling the pandemic have started experiencing resurgence in new cases of infection.<\/p>\n

As one economist suggests \u2018each African country, regardless of its stage of economic growth, presents a particular set of opportunities across various sectors and a particular set of challenges in facing Covid-19\u2019.<\/p>\n

These challenges, of course, can be changed into opportunities to make our economies stronger.<\/p>\n

What is needed is to continue taking preventive measures against the pandemic and at the same time researching on how we can perform during the post-Covid-19 era.<\/p>\n

It still makes sense to show solidarity in finding a workable solution to this global pandemic and others whenever they strike.<\/p>\n<\/div>\n

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