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Beirut – The United Nations Economic and Social Commission for Western Asia (ESCWA) has warned that the emerging coronavirus could cause the loss of more than 1.7 million jobs in the Arab world.
The committee predicted that “the gross domestic product of Arab countries will fall by at least $ 42 billion” this year against the backdrop of falling oil prices and the repercussions of the outbreak.
The commission’s report suggested that the loss of such a large number of jobs during the current year would lead to an increase in the unemployment rate of up to 1.2 percentage points. He stressed that “Contrary to the effects of the global financial crisis in 2008, job opportunities are expected to be affected in all sectors.”
The commission stressed that “the service sector, which is the main source of job opportunities in the Arab region, will be the sectors most exposed to the effects of social separation”.
The International Labor Organization warned Wednesday that the economic and employment crisis caused by the spread of the Coronavirus will have “far-reaching effects on the labor market”.
And the United Nations has announced that the virus outbreak will lead to a significant increase in unemployment around the world and leave 25 million people unemployed, as well as its effect on reducing workers’ income.
Many countries, such as Tunisia, Egypt, Morocco and Jordan rely heavily on the tourism sector to provide jobs and support all other economic sectors, which increases the repercussions of the suspension of flights and tourism.
The International Air Transport Association (IATA) announced yesterday that airlines in the Middle East are facing a liquidity crisis and that hundreds of thousands of jobs are threatened by the outbreak of the Coronavirus, and urged governments to provide assistance.
The largest organization in the industry estimated that airlines in the Middle East lost about $ 7.2 billion in revenue as of March 11 due to the cancellation of 16,000 flights since last January.
“The repercussions are not like what we have seen before,” said Muhammad Ali Al-Bakri, Federation Vice President for Africa and the Middle East. We are facing difficulties, suffering and bleeding. “
IATA has suggested that governments increase support measures and provide direct financial support, loans, loan guarantees and tax exemptions to airlines.
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