The schools might place greater emphasis on the year 12s since no one wants anyone to repeat another year. The other cohorts will be on the 'backburner' for now. The universities are already revising their entry requirements for some of their courses in light of recent events. I don't think anyone should worry about 'cheating' because firstly its unethical, secondly its takes a lot of hard work to 'cheat' and finally the idea of assessments is to help you assess your abilities to take up future challenges. When things start to calm down a little, you'll find that the economy will be charging 'full steam ahead'. It is going to be unreal.
Regardless of what happens, multiple figures have said there will be no mass repeating. They will have to make do with whatever gets done.
Cheating is also unavoidable if exams are meant to be taken at home (in reference to one of your previous comments, it will be feasible to hold in school exams at some point and there is no reason not to, unless the situations spirals again), in “trust” of their integrity. Not only is cheating easy with no proctoring (and compulsory use of e-proctor software extremely controversial and inaccessible), student trust in the integrity of the exam is also lacking, as they cannot confirm other students are no cheating.
The economy is not going to be charging anytime soon, at least until the virus is well and truly gone. That’s probably a year or more away. Too many things they can’t open up yet. But yes, once it is really gone, we will see the economy come back to life.