the report – based on survey data collected in April - finds that the COVID-19 epidemic has had several direct repercussions on businesses: reduced working hours, lower sales and revenue, and even partial or total shutdown. Overall, 37.7%of businesses were forced to close (2.4%permanently and 35.3%temporarily). However, the report notes that the business closure rate was higher among microenterprises (43%) than among small and medium-sized enterprises (about 30%). Nearly 35% of export firms and 54% of majority foreign-owned firms closed their doors.

The pandemic has had a particularly sharp impact on sales across all types of businesses and in all sectors. Up to 94.1% of companies experienced a decline in sales in the first 30 days of the pandemic. Only 0.6% of companies reported revenue growth, and the increases were generally small.

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Based on the results of a survey of 800 households conducted in April 2020, the report notes that 71% of households saw their income decrease and were unable to meet their basic living expenses. Only three out of ten households have enough savings to pay for regular expenses such as rent, water and electricity bills, and food.