COVID-19 Crisis: Forecasting the Arab World Economy Performance Using the ARIMA Model
2022 World Congress on Engineering, WCE 2022
; 2244:48-53, 2022.
Article
in English
| Scopus | ID: covidwho-2010764
ABSTRACT
This paper predicts Coronavirus Disease (COVID-19)'s potential influence on the Arab country's economy by using the Autoregressive Integrated Moving Average (ARIMA) model. The world bank offers data of the Arab countries' Gross Domestic Product (GDP) over the period 1960-2019. As we show up at the pinnacle of the COVID-19 pandemic, quite possibly the most critical inquiry going up against us is what is the potential impact of the progressing crisis on the Arab countries' economic improvement rate? The results have shown that the GDP growth is approximately -3.8% to 1.5% for 2021 and 2022, respectively. The referenced outcomes show that pandemic status significantly affects the Arab world economy special after the energy demand decline, which prompts a fall in oil price. In spite of the fact that the Arab world's financial development is growing again, it is not most likely going to re-visitation of business as usual for quite a while to come. © 2022 Newswood Limited. All rights reserved.
ARIMA Model; COVID-19; Forecasting; GDP; Time series analysis; Economic and social effects; Economics; Arab countries; Auto-regressive; Autoregressive integrated moving average model; Coronaviruses; Economy performance; Gross domestic products; Moving average model; Time-series analysis; World bank; World economy
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Collection:
Databases of international organizations
Database:
Scopus
Language:
English
Journal:
2022 World Congress on Engineering, WCE 2022
Year:
2022
Document Type:
Article
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