THE NEGATIVE IMPACT OF COVID-19 ON REGION INDUSTRIES: HEALTH HAZARDS AND ITS FORECASTING
Abstract
The authors of the article consider the COVID-19 pandemic as a factor that has hurt various world economy sectors. Events caused by restrictive actions by governments in quarantine measures to reduce the spread of coronavirus have worsened the financial and economic situation of several businesses on a regional scale. The situation in the world's economy highlights the need for comprehensive research in forecasting and leveling the harmful effects of epidemics of this scale at different levels of the socioeconomic sphere of individual regions. The study aims to summarize the material on the spread of the COVID-19 pandemic and measures to combat it in different countries for use in the development of tools to prevent such negative phenomena on the economy of individual regions. The authors did a comparative analysis of the state of the critical parameters of government action to reduce the negative impact of COVID-19 in the countries leading the rate of spread of this virus. This ranking includes Ukraine, which is in the top twenty countries with the highest number of detected cases. The impact on the processing industry as the sector most affected by the pandemic is significant for the domestic economy, as this industry is one of those that form the largest share of the country's GDP. The article also presents the results of the research of business respondents in the manufacturing sector. If some of them did not experience significant changes in their work, most small and medium-sized companies suffered losses and suspended their production or reduced their scale. The main problems were the transportation of workers to production facilities, problems with product sales, and additional costs associated with countering the pandemic. The authors made conclusions on the most appropriate tools to support Ukraine's processing industry to overcome the challenges posed by a global pandemic. Keywords: COVID-19 pandemic, economic health of a region, economic activity, processing industry, forecast of the socio-economic situation.
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