In 2020, global gross domestic product declined by 6.7 percent as a result of the coronavirus (COVID-19) pandemic outbreak. In Latin America, overall GDP loss amounted to 8.5 percent.

As of November 2021, the U.S. goverment dedicated ***** percent of the GDP to soften the effects of the coronavirus pandemic. This translates to stimulus packages worth **** trillion U.S. dollars Economic impact of the Coronavirus pandemic The impact of the COVID-19 pandemic was felt throughout the whole world. Lockdowns forced many industries to close completely for many months and restrictions were put on almost all economic activity. In 2020, the worldwide GDP loss due to Covid was *** percent. The global unemployment rate rocketed to **** percent in 2020 and confidence in governments’ ability to deal with the crisis diminished significantly. Governmental response In order to stimulate the economies and bring them out of recession, many countries have decided to release so called stimulus packages. These are fiscal and monetary policies used to support the recovery process. Through application of lower taxes and interest rates, direct financial aid, or facilitated access to funding, the governments aim to boost the employment, investment, and demand. Stimulus packages Until November 2021, Japan has dedicated the largest share of the GDP to stimulus packages among the G20 countries, with ***** percent (*** trillion Yen or **** trillion U.S. dollars). While the first help package aimed at maintaining employment and securing businesses, the second and third ones focused more on structural changes and positive developments in the country in the post-pandemic future.

Ireland DE: HU: Change in Personal Income Tax Revenue data was reported at -1,416.000 EUR mn in Dec 2021. This records an increase from the previous number of -1,712.000 EUR mn for Sep 2021. Ireland DE: HU: Change in Personal Income Tax Revenue data is updated quarterly, averaging -1,594.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -1,416.000 EUR mn in Dec 2021 and a record low of -1,716.000 EUR mn in Mar 2021. Ireland DE: HU: Change in Personal Income Tax Revenue data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Trends in Covid positive rate. The latest data for over 100 countries around the world.

Ireland DE: HU: Cost of Temporary Wage Subsidy data was reported at 1,883.000 EUR mn in Dec 2021. This stayed constant from the previous number of 1,883.000 EUR mn for Sep 2021. Ireland DE: HU: Cost of Temporary Wage Subsidy data is updated quarterly, averaging 941.500 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of 1,883.000 EUR mn in Dec 2021 and a record low of 0.000 EUR mn in Jun 2021. Ireland DE: HU: Cost of Temporary Wage Subsidy data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: LU: Cost of Temporary Wage Subsidy data was reported at 379.000 EUR mn in Dec 2021. This stayed constant from the previous number of 379.000 EUR mn for Sep 2021. Ireland DE: LU: Cost of Temporary Wage Subsidy data is updated quarterly, averaging 189.500 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of 379.000 EUR mn in Dec 2021 and a record low of 0.000 EUR mn in Jun 2021. Ireland DE: LU: Cost of Temporary Wage Subsidy data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

In most years since 1980, global GDP growth has been relatively consistent, generally fluctuating between two and five percent growth from year to year. The most notable exceptions to this were during the Great Recession in 2009, and again in 2020 during the Covid-19 pandemic, where the global economy actually shrank in both of these years. As the world economy continues to deal with the economic impact of the pandemic, as well as the fallout from Russia's invasion of Ukraine in 2022, the future remains uncertain, however current estimates suggest that annual growth will return to steady figures of around 3 percent in 2030.

Ireland DE: HU: Change in Market Income data was reported at -5,178.000 EUR mn in Dec 2021. This records an increase from the previous number of -6,474.000 EUR mn for Sep 2021. Ireland DE: HU: Change in Market Income data is updated quarterly, averaging -7,407.500 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -5,178.000 EUR mn in Dec 2021 and a record low of -8,341.000 EUR mn in Jun 2021. Ireland DE: HU: Change in Market Income data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Inflation is generally defined as the continued increase in the average prices of goods and services in a given region. Following the extremely high global inflation experienced in the 1980s and 1990s, global inflation has been relatively stable since the turn of the millennium, usually hovering between three and five percent per year. There was a sharp increase in 2008 due to the global financial crisis now known as the Great Recession, but inflation was fairly stable throughout the 2010s, before the current inflation crisis began in 2021. Recent years Despite the economic impact of the coronavirus pandemic, the global inflation rate fell to 3.26 percent in the pandemic's first year, before rising to 4.66 percent in 2021. This increase came as the impact of supply chain delays began to take more of an effect on consumer prices, before the Russia-Ukraine war exacerbated this further. A series of compounding issues such as rising energy and food prices, fiscal instability in the wake of the pandemic, and consumer insecurity have created a new global recession, and global inflation in 2024 is estimated to have reached 5.76 percent. This is the highest annual increase in inflation since 1996. Venezuela Venezuela is the country with the highest individual inflation rate in the world, forecast at around 200 percent in 2022. While this is figure is over 100 times larger than the global average in most years, it actually marks a decrease in Venezuela's inflation rate, which had peaked at over 65,000 percent in 2018. Between 2016 and 2021, Venezuela experienced hyperinflation due to the government's excessive spending and printing of money in an attempt to curve its already-high inflation rate, and the wave of migrants that left the country resulted in one of the largest refugee crises in recent years. In addition to its economic problems, political instability and foreign sanctions pose further long-term problems for Venezuela. While hyperinflation may be coming to an end, it remains to be seen how much of an impact this will have on the economy, how living standards will change, and how many refugees may return in the coming years.

Ireland DE: HU: Change in Employer SIC Revenue data was reported at -730.000 EUR mn in Dec 2021. This records an increase from the previous number of -736.000 EUR mn for Sep 2021. Ireland DE: HU: Change in Employer SIC Revenue data is updated quarterly, averaging -736.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -730.000 EUR mn in Dec 2021 and a record low of -736.000 EUR mn in Sep 2021. Ireland DE: HU: Change in Employer SIC Revenue data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: LU: Change in Market Income data was reported at -3,740.000 EUR mn in Dec 2021. This records an increase from the previous number of -4,008.000 EUR mn for Sep 2021. Ireland DE: LU: Change in Market Income data is updated quarterly, averaging -4,196.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -3,740.000 EUR mn in Dec 2021 and a record low of -4,384.000 EUR mn in Jun 2021. Ireland DE: LU: Change in Market Income data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: Change in Market Income data was reported at -4,456.000 EUR mn in Dec 2021. This records an increase from the previous number of -5,247.000 EUR mn for Sep 2021. Ireland DE: Change in Market Income data is updated quarterly, averaging -5,829.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -4,456.000 EUR mn in Dec 2021 and a record low of -6,411.000 EUR mn in Jun 2021. Ireland DE: Change in Market Income data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: LU: Change in Employer SIC Revenue data was reported at -379.000 EUR mn in Dec 2021. This records an increase from the previous number of -381.000 EUR mn for Sep 2021. Ireland DE: LU: Change in Employer SIC Revenue data is updated quarterly, averaging -381.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -379.000 EUR mn in Dec 2021 and a record low of -381.000 EUR mn in Sep 2021. Ireland DE: LU: Change in Employer SIC Revenue data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: Change in Employer SIC Revenue data was reported at -552.000 EUR mn in Dec 2021. This records an increase from the previous number of -556.000 EUR mn for Sep 2021. Ireland DE: Change in Employer SIC Revenue data is updated quarterly, averaging -556.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -552.000 EUR mn in Dec 2021 and a record low of -556.000 EUR mn in Sep 2021. Ireland DE: Change in Employer SIC Revenue data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: Change in Employee SIC Revenue data was reported at -229.000 EUR mn in Dec 2021. This stayed constant from the previous number of -229.000 EUR mn for Sep 2021. Ireland DE: Change in Employee SIC Revenue data is updated quarterly, averaging -229.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -229.000 EUR mn in Dec 2021 and a record low of -229.000 EUR mn in Dec 2021. Ireland DE: Change in Employee SIC Revenue data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: HU: Change in Means-Tested Welfare Expenditure data was reported at 44.000 EUR mn in Dec 2021. This records a decrease from the previous number of 143.000 EUR mn for Sep 2021. Ireland DE: HU: Change in Means-Tested Welfare Expenditure data is updated quarterly, averaging 90.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of 143.000 EUR mn in Sep 2021 and a record low of 44.000 EUR mn in Dec 2021. Ireland DE: HU: Change in Means-Tested Welfare Expenditure data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: Low Unemployment Shock (LU): Net Impact data was reported at -3,228.000 EUR mn in Dec 2021. This records an increase from the previous number of -3,314.000 EUR mn for Sep 2021. Ireland DE: Low Unemployment Shock (LU): Net Impact data is updated quarterly, averaging -3,271.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -2,778.000 EUR mn in Mar 2021 and a record low of -3,351.000 EUR mn in Jun 2021. Ireland DE: Low Unemployment Shock (LU): Net Impact data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: HU: Change in Non Means-Tested Welfare Expenditure data was reported at 1,367.000 EUR mn in Dec 2021. This records a decrease from the previous number of 1,370.000 EUR mn for Sep 2021. Ireland DE: HU: Change in Non Means-Tested Welfare Expenditure data is updated quarterly, averaging 1,927.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of 3,738.000 EUR mn in Jun 2021 and a record low of 1,367.000 EUR mn in Dec 2021. Ireland DE: HU: Change in Non Means-Tested Welfare Expenditure data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: LU: Change in Personal Income Tax Revenue data was reported at -794.000 EUR mn in Dec 2021. This records an increase from the previous number of -856.000 EUR mn for Sep 2021. Ireland DE: LU: Change in Personal Income Tax Revenue data is updated quarterly, averaging -833.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of -794.000 EUR mn in Dec 2021 and a record low of -945.000 EUR mn in Mar 2021. Ireland DE: LU: Change in Personal Income Tax Revenue data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]

Ireland DE: Change in Means-Tested Welfare Expenditure data was reported at 60.000 EUR mn in Dec 2021. This records a decrease from the previous number of 119.000 EUR mn for Sep 2021. Ireland DE: Change in Means-Tested Welfare Expenditure data is updated quarterly, averaging 75.000 EUR mn from Mar 2021 (Median) to Dec 2021, with 4 observations. The data reached an all-time high of 119.000 EUR mn in Sep 2021 and a record low of 60.000 EUR mn in Dec 2021. Ireland DE: Change in Means-Tested Welfare Expenditure data remains active status in CEIC and is reported by Economic and Social Research Institute. The data is categorized under Global Database’s Ireland – Table IE.F013: Potential Costs and Distributional Effect: COVID-19 Related Unemployment. [COVID-19-IMPACT]