The Worst Global Recession

In this article I will propose some ideas to deal with the worst global recession in history. The way out of the crisis, however, is long, arduous, and painful, and everyone in his or her capacity should take part in the discussions and propose further ideas.
There is no doubt that the coronavirus is one of the reasons of this recession and that it is here to stay for a while. Its economic repercussions, therefore, will continue. It is not reasonable then to wait until we eradicate the pandemic to face the imminent economic and social dangers.
The economic crisis I expected to take place in 2020 has exacerbated. It continues to grow while we combat the coronavirus. It will continue after the pandemic and until the end of this year leading to the worst recession in history, even worse than the Great Depression  between 1929 and 1932.

It is necessary for every country to develop appropriate plans to face this great challenge. It is worth mentioning that the International Monetary Fund (IMF) says that getting out of the crisis depends on the measures taken by each country and that we need a quick economic rescue plan for 2020, and another one that extends to 2025.
I am well aware that each country has its own specific circumstances and considerations, and I am not claiming that I can propose suggestions for each country as the decision makers in each Arab state are capable of doing that. What I am a suggesting is that such decision making should be done in a collaborative manner with input from cross sectoral stakeholders including government, business, academia, and civil society to propose solutions to face this looming disaster. This team should work as an advisory board that reports to the head of state to decide what procedures should be implemented.

This could include annulling taxes on new investment projects in the agricultural, medical, and other industries to ensure they receive the necessary protection to achieve self-sufficiency in the country. Digital transformation of the country should also be given priority including digitalizing trade and education as well as developing an e-services based government. These should be backed up with effective laws that promote investment and protect consumers.
Policies for the stimulation of GDP growth should be adopted as well as policies that stimulate business, to create more jobs and expand the tax base which will in turn generate more tax revenues for the state without resorting to direct tax increases. The economic sector and citizens should be involved in decision-making because the coronavirus crisis has proven that the citizens accept, cooperate, commit, and respect the powers of the authorities when they know that this serves their interests.
A program to employ the unemployed in small companies and disburse their salaries through such companies instead of paying them unemployment benefits should be adopted. A training system that ends with employment based on the mutual consent between the company and the worker should be considered. Also, an administrative reform plan along with an austerity program to rationalize spending and restructure government sectors should be looked into. There should also be an absolute, unwavering sovereign commitment to maintaining the free movement of funds.

Finally, energy policies should be restructured and the international agreements should be developed to promote the national interests of each country. Small businesses should be supported qualitatively, legislatively, and procedurally. A study should be conducted on the privatization of government institutions and whether it increases efficiency, achieves profitability and stops losses. Policies and procedures for controlling prices and combating high prices should also be adopted.