Effects of Economic Crisis in Developing Country

Effects of Economic Crisis in Developing Country

In today’s world, there are a myriad of people who are in the grip of poverty because of economic crisis throughout the world. Moreover, the rates of individuals who suffer from poverty are increasing each passing day. Countries,especially developing countries, have made numerous efforts in order to handle the problem. In this respect, there are a lot of damaging effects on developing countries in terms of increase unemployment and decrease in gross national incomes.

To begin with increase unemploymet, in developing countries, many companies have been obligated to fire their employees recently due to economic crisis. Economical stagnation has become such a insufferable degree that companies could not turn a blind eye. In this regard, increasing unemployment has emerged as a inevitable compulsion. To illustrate many huge companies which are widely known have gone bankrupt. Furthermore, a lot of countries are obligated to allocate great amount of money to recover these companies from bankrupt.

When it comes to decrease in gross national income, It can easily be asserted that, economic crises has affected great amount of poeple in the world.decreasing national income can be regarded as the one of the most important issues which are influenced by economic crises. National incomes per head is an indicator of living. Hence, changing in national income brings about great effects in people’s living conditions. Should developing countries which try to eradicate economic crisis do not pay attention to changing in national incomes, they may not provide their citizens with sufficient living conditions.

All in all, developing countries have some difficulties to deal with the problems which are caused by economic crises namely increase unemploynent and decrease in gross national incomes. In my opinion, they should show great determination so as to solve the issue.

TOEFL listening lectures: A lecture from a science class

thank you very much mr.kitos