FISCAL ANTICRISIS MEASURES OF COUNTRIES DURING THE COVID-19 PANDEMIC

Author(s): Gorbacheva T.A.

Rubric: Domestic and foreign trade

DOI: 10.21777/2587-554X-2020-3-38-42

Release: 2020-3 (34)

Pages: 38-42

Keywords: fiscal policy, budget measures, tax measures, fiscal space, budget debt, credit guarantees, state financial support

Annotation: The coronavirus pandemic has become a new challenge for both the individual country and the global economy. The conditions of instability forced regulators to quickly take a package of response measures to mitigate the economic consequences. The purpose of this article is to provide a brief overview of countries ‘ fiscal measures during the development of the COVID-19 pandemic. Methods of comparative analysis, critical and systematic approach to the study of information are used. It is noted that the response of fiscal policy to the emerging crisis was prompt and went in tandem with monetary policy. Advanced economies have implemented more extensive fiscal measures than emerging markets. The features of this trend are revealed: developing countries have a narrower fiscal space compared to developed countries. In addition, they have tightened their funding conditions due to the pan-economic shock, which also constrains their fiscal measures.

Bibliography: Gorbacheva T.A. FISCAL ANTICRISIS MEASURES OF COUNTRIES DURING THE COVID-19 PANDEMIC // Economics and Management. – 2020. – № 3 (34). – С. 38-42. doi: 10.21777/2587-554X-2020-3-38-42