Good Practice Lessons from Germany's Economic Policy Measures in Response to the Covid-19

From the very onset of the coronavirus epidemic, the German authorities adopted a set of rigorous measures meant to protect population health by drastically limiting social contact and partly discontinuing economic activity, in order to slow down the spreading of the virus and avoid a possible colla...

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Bibliographic Details
Published in:Global economic observer 2020-06, Vol.8 (1), p.24-32
Main Author: Bâlgar, Ana-Cristina
Format: Article
Language:English
Subjects:
Asymptomatic
Consumption
Coronaviruses
COVID-19
covid-19 crisis
Crises
Disease transmission
Economic activity
Economic crisis
Economic development
Economic growth
Economic policy
economic policy measures
Economic recovery
Epidemics
Exports
GDP
germany
Gross Domestic Product
Growth rate
International trade
Pandemics
responses to the covid-19 pandemic
Social distancing
Social interaction
Studies
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Summary:From the very onset of the coronavirus epidemic, the German authorities adopted a set of rigorous measures meant to protect population health by drastically limiting social contact and partly discontinuing economic activity, in order to slow down the spreading of the virus and avoid a possible collapse of the healthcare system. This well targeted strategy was combined with the amplest economic relief package in the country 's post-war history, which made Germany the world leader in terms of effectiveness of government measures adopted for combatting the effects of the crisis generated by the Covid-19 epidemic. In the context described, this article aims to review the measures adopted by Germany to combat the epidemic and limit the economic effects of the subsequent crisis, while also pointing out the budget impact of these measures and the need to abandon the traditional federal policy focused on maintaining a balanced budget.
ISSN:2343-9742
2343-9750