The COVID-19 pandemic has shattered the world to its core, and ongoing wars in different regions have brought us to the verge of a large-scale war more devastating than at any time in human history. Thus the world is facing numerous challenges on top of its regular problems like global warming, overpopulation and poverty. My country, I believe, will face economic challenges and in a war in the next ten years.
The global economy has been hit hard by the ongoing pandemic, restrictions, wars, and recessions. My country, in particular, relies on imports more heavily than its exports. As a result, the foreign currency reserve may shrink in the future, making it more difficult to import necessary fuels and goods from other countries. It will surely have negative consequences on our economy. Moreover, our job market is likely to become more unstable due to the challenges faced by businesses. Besides, the world is watching appalling and devastating wars, and many countries, including ours, in a war in the next few years. If this happens, the fate of our country is bleak.
To address the upcoming economic problems of our country, to take diverse initiatives to strengthen our export industries. They can offer incentives to export-oriented companies, for example, to achieve that. They should also take measures to increase our foreign reserves so that we do not get trapped in a situation where we will fail to import necessary foods and medicines . One way to achieve that is to restrict the amount someone from our country can spend on a foreign tour from now on. To avoid wars and regional conflicts, our leaders have to take part in friendly discussions with their counterparts instead of . We must understand that it is not a time to get involved in a war when millions of people are suffering from the ongoing pandemic and recession.
In conclusion, our country has to act prudently to avoid economic crises and wars as these two are ahead of us.