Open AccessA REVIEW ON MACRO-ECONOMIC VIEW IN ETHIOPIA’S ENTREPRENEURSHIP UNDER COVID-19
Author(s) -
Selamawit Assefa Redi,
Петр Новак
Publication year - 2022
Publication title -
modern management review
Language(s) - English
Resource type - Journals
eISSN - 2353-0758
pISSN - 2300-6366
DOI - 10.7862/rz.2022.mmr.06
Subject(s) - pandemic , gross domestic product , economics , unemployment , covid-19 , entrepreneurship , inflation (cosmology) , development economics , work (physics) , consumer price index (south africa) , economic recovery , economic growth , macroeconomics , monetary policy , finance , physics , disease , pathology , theoretical physics , infectious disease (medical specialty) , engineering , medicine , mechanical engineering
The COVID-19 pandemic has caused greater challenge for the investors and policymakers to mitigate the consequences of this pandemic. Through a review of the literature on the economics of the coronavirus (COVID-19) pandemic, this study explores the effects of the pandemic on the entrepreneurship taking in to account the gross domestic product, employment, and inflation (consumer price index) of Ethiopia during the first years of the pandemic. The review reveals that adverse economic effects have been observed due to the COVID-19 pandemic in addition to fatalities. The pandemic has influenced in a negative way the country’s economy by reducing the GDP growth which has been recorded as one of the fastest economies for the last decade. The partial shutdown taken by the government as a response of the pandemic has led million lose their work increasing the unemployment rate and thus triggering inflation on consumers goods.