Effects of Corona Virus on the World Economy, a New Electronic Workshop

College of Administration and Economics at Al- Iraqia University organized an electronic workshop on (the effects of the Corona virus on the global economy with a special indicate to Iraq). The workshop in which Dr. Aycer Yassin Fahd attended  explained the most prominent reflections of Corona epidemic at the level of local economy of countries , effect of virus on obstructing national economic activity , the costs of addressing and containing this epidemic and the loss of confidence in the market besides its impact on the air transport sector.

The workshop discussed the repercussions of the epidemic on global economy level through its effect on trade exchange, the effect of regional Quarantine on the lack of production, global demand and its impact on economic growth and global oil prices.

The negative effects of the epidemic on the Iraqi economy were also discussed through the significant decline in Iraqi oil prices and the increase in government spending to cope with this epidemic.

At the end of the workshop, there were several recommendations such as increasing the Iraqi government’s attention to limit the available financial resources, defining aspects of its spending, identifying the process of rationalizing expenditures, recovering suspicious funds, ensuring the flow of goods to the local market, and getting rid of unnecessary expenses, eliminating private privileges  and supporting the agricultural sector.