The double shock impact is pushing economic activity

Numbers alone would tell us that this so called normality is not sustainable. More than one million Ontarians have been laid off and are uncertain when, or if, they will go back to work. The federal government can cover the costs of a dramatically reduced economy indefinitely, not when that means a deficit of more than $200 billion.

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Canada Goose Parka Some 74% of travel and tourism companies said they expected to close in that time, and 30% of companies in transport, storage and communications expect the same fate.»Full and partial city lockdown measures are bringing demand in key markets to a standstill. The double shock impact is pushing economic activity down to levels not seen even during the financial crisis,» the Dubai Chamber wrote in its report released Thursday, entitled «Impact of Covid 19 on Dubai Business Community.»The Dubai Chamber report notes that in March, «banks seem to have increased lending to SMEs which saw a 5.3% y o y growth, to reach a value of AED93.4 billion. The Chamber’s report warned: «The impact of COVID 19 crisis on the world economy during 2020 is projected to be greater than the 2008 09 financial crisis.»When contacted, many people concerned told The News the pandemic had hit businesses hard across the globe. Canada Goose Parka

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