School closures during pandemic could have lasting economic impact

School closures during the pandemic have harmed children’s knowledge in many G20 countries. The International Monetary Fund (IMF) estimated on Tuesday that they could have a lasting economic impact in advanced economies with potentially 3% lower GDP.

Recent assessments of primary, middle and high school students and college students indeed show that widespread virtual learning during the Covid-19 crisis resulted in a drop in grade levels in countries such as India, Germany, the UK as well as Brazil and the United States. I have come , where some establishments remained closed for more than a year.

Revenue loss of 1.5% to 10%

Economists then began with the observation that today’s students would represent about 40% of the working-age population in G20 economies in the coming decades. “While there are still a lot of unknowns, our simulations suggest that once all these students are in the workforce, the GDP of advanced G20 economies could shrink by 3% in the long run” compared to estimates that were previously made. Had gone. Epidemic.

Unsurprisingly, it is the poorest households that have suffered the worst learning losses with the likelihood that “notably lowering may further exacerbate income inequality”. “Estimates suggest that if incomplete education is not corrected during the pandemic, this could translate to 1.5% to 10% of lost earnings over a lifetime for people in G20 countries”.

See also  Kavid-19: Who will get Pfizer / Bioentech vaccine and when? | UK News

You May Also Like

About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

Leave a Reply

Your email address will not be published.