Addressing the Social and Economic Impact
of the COVID-19 Pandemic
Coronavirus Disease (2019) COVID-19 now poses a more serious downside risk to the global economy. The World Health Organization (WHO) declared the COVID-19 outbreak a pandemic on March 11 to signify its severity and global coverage and urged countries to take ‘urgent and aggressive action.’ On March 13, Europe was declared the new epicenter of the virus, as its confirmed cases and deaths surpassed those of the rest of the world (except China). New cases in Europe even surpassed those of China at its peak. As of March 19, globally confirmed cases reached 218,823 and 8,810 deaths. In the Philippines, there are now 217 total confirmed cases, 17 deaths, and 8 recoveries.