2022 Economic Predictions
The COVID-19 pandemic has ravaged the economies of many countries across the world. Since the announcement of the coronavirus’s first case in China, global economies shook and governments started putting measures to curb the pandemic. The virus spread across the world like a bush fire, and soon people began dying in many numbers. 2020 was one of the worst years because people were forced to change the way of life and adapt to the new normal of wearing facemasks, sanitizing, and keeping social distance. Other countries had to suspend international travels by air, sea, or rail. In turn, this affected the economic growth of many nations. Factories had to close down due to reduced business that later rendered millions of employees jobless. Alexander Djerassi was surprised when the US was highly hit by the pandemic being among the first countries that lost over half a million citizens since the pandemic began. For instance, between February and April 2020, over 22 million people lost their jobs.
Governments across the globe began investing in science to develop vaccines to fight the virus. Towards the end of 2020, there is hope because several vaccines have been developed that have given hope to the resumption of economic activities. The US has taken an early lead to vaccinate the majority of its citizens to mitigate the effects of the coronavirus. 2021 is a good year because economic growth has started being experienced in some parts of the world. Analysts have gone back on the drawing board and came up with different economic growth predictions in 2022.
In the US, deaths have reduced, and the graph is leveling. This means that there will be fewer or no more lockdowns, and businesses will resume operations. The government stimulus relief package of $1200 to citizens made an impact in cautioning the economic downturn. There is projected growth in the real estate industry because the developers have adopted new ways of doing business simultaneously despite the pandemic. People can now book meetings online with the developers and take a virtual house tour before purchasing the house. The Congressional Budget Office has predicted that the Gross Domestic Product will grow by 3.7 percent, and a further unemployment rate will fall by 5.3 percent.
Alexander Djerassi is a respected public servant in the United States. He is recognized for championing good working relationships between citizens and government institutions. He has worked in the US Department of State’s Near East Bureau as a senior staff member involved in building relationships between America and the Arab World. He sees an opportunity for increased diplomatic relations and economic growth in 2022 after the reduced coronavirus infections.
Djerassi is the founder of Mos.com, which is a technological-based company in San Francisco. The company offers solutions to needy students who cannot raise school fees to pursue their technological study goals. He sees an opportunity that after the coronavirus pandemic in 2022, students will be able to access education without being trapped in costly student debts that derail them from achieving success.