Tax and Budgetary Measures during COVID-19 Crisis in Europe

• Main Author: Cristina Elena BADIU
• Format: Article
• Language: English
• Published: Dunarea de Jos University of Galati 2020-08-01
• Series: Annals of Dunarea de Jos University. Fascicle I : Economics and Applied Informatics
• Subjects: covid-19 crisis; fiscal measures; unemployment rate; gdp; public debt
• Online Access: http://www.eia.feaa.ugal.ro/images/eia/2020_2/Cristina_Elena_Badiu.pdf

The COVID-19 crisis has caused two contradictory aspects: the population contamination, lockout of the medical system and increasing the number of deaths, and the economic crisis and bankruptcy. The fear generated by the lockout imposed by the crisis regarding the increase in number of bankruptcies and unemployment is the main reason why European governments are subsidizing business on a large scale. Also, all countries adopted diverse tax and budgetary measures in order to support the economy. The recovery from the crisis must be made considering the specifics of each economy, but the recovery and initial measures must coexist in order to ensure an appropriate framework for the return to the “afloat” condition.