Economic news

This year 2020 has been marked by the Covid-19 virus, causing multimillion-dollar losses worldwide due to the paralysis of economic activity for a lengthy period of time. Health systems were not prepared for this pandemic, and as a consequence there have been countless deaths and countless layoffs that have caused a new economic crisis.

The sectors most affected by the pandemic have been the tourism and hospitality sectors. There have been many hotels, bars and restaurants that have closed their doors for good and will not open again, because they would sell. Airlines are also paralyzing due to mobility restrictions, and all travel agencies have had to temporarily close. For the countries of the European Union, the hope remains that the economic aid sent by the ECB and the governments will allow them to face this colossal crisis.

There has been numerous news of evictions, layoffs and lack of food for families, and all this has accentuated the enormous economic inequality experienced by different families in the world. Other news has been that sustainable investments are increasing to take care of the environment, due to the fear that we are loading the planet.

US elections always involve a global interest because depending on who is elected president. It will contain a series of measures that benefit one or the other. This year 2020, the chosen one has been the Democrat Joe Biden, and whose future parts will be to raise taxes on large companies, bet on the beneficial change towards technological and renewable energy infrastructures and raise the minimum wage. Although the leading measure is the fight with the current Covid-19 pandemic, which has affected immensely with numerous deaths in all American states.

In this last month of November, the news of the massive effectiveness of Moderna and Pfizer’s vaccines against Covid-19 has made us recover optimism and think about an economic recovery from 2021. This news increased the stock market indices in almost everything the world. Now we have to wait to see the effectiveness of these vaccines, if more than one dose will be necessary and if they produce side effects in people.

In Slovakia, as of December 15, 2020, employers affected by the second wave of the pandemic will be able to obtain rental assistance. Also, this month, the European Commission will allocate 300 million euros to Slovakia, to cope with the sudden increase in public spending to preserve employment in the country.