COVID-19 Continues To Affect Europe’s Economy

The International Monetary Fund predicts that Europe’s economy will reduce by 8.3 which is double the amount that the world’s economy will decrease.

COVID-19 has been particularly bleak for small business owners, who are currently struggling to stay afloat.

Many cities, such as Berlin, have introduced a ban on bars trading late at night, which negatively impacts these businesses.

Baizad Karinkani, a small business owner, says that having a business during this time is very uncertain as owners do not know if they will make a profit or not.

Experts predict that it will be a gradual recovery for the cities within Europe. It may take about two years for them to fully recover.

The main focus has been providing citizens with basic wages to support their families and businesses stay afloat during this pandemic.

However, there is concern that in certain countries these subsidies may have to stop as their debt will continue increasing if they do not.

These countries continue to debate details of recovery plans, however, livelihoods of workers and businesses still hang in the balance

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