Economic Impact of COVID-19 on the Vulnerable Population of Bangladesh

Abstract

This study aims to find out the Economic condition of the vulnerable population of Bangladesh in the COVID-19 situation. This study uses the primary data of 203 respondents who were collected from all around Bangladesh using convenience and purposive sampling during the first wave of the COVID-19 pandemic. In this study, a comparison of expected income in the COVID-19 situation is made with the pre-COVID-19 situation using Welch two-sample t-test, and the possible impact on Expenditure and Savings is discovered using OLS estimation. Descriptive analysis is also included considering the key economic variable of the respondents. This study finds a significant drop in income due to the COVID-19 pandemic and infers that it will cause both drop-in expenditure and monthly savings. Moreover, this study gives an overall idea of the situation of vulnerable people in the COVID-19 situation. This paper intends to help the stakeholders and policymakers to understand the situation of the vulnerable population of Bangladesh during the COVID-19 pandemic.

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