The ongoing debates on the COVID-19 impacts to the global economy In recent years, the world economy has been constantly subject to the impacts of different
disintegration factors such as the increase of military clashes, sanctions and trade wars, and the
spread of various diseases. One of the major new challenges that the world economy face is the
global spread of the COVID-19 pandemic with almost 5.8 million infections and 360 thousand
deaths all over the world (WHO, 2020). Being the anti-pandemic measures, the closure of the