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Taxation And The Fiscal Policies Under The Impact Of The Covid-19 Pandemic In The European Union

Author

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  • Gica Gherghina Culita

    (Constantin Brâncoveanu University, Pitesti)

Abstract

Challenges of the COVID-19 pandemic drastically impacted the public budget of the European Union. Public expenditures rose due to the necesary equipment for the critical state of the health care systems. From the usual masks and complex machines, like the ventilated respiratory assistants, to the vaccines, all implied financial resources were above the planned budget. At the same time, Covid-19 has resulted in unprecedented disruption to the mechanic industry of most countries, regardless of their size or stage of development. In particular, the main sectors of economy were blocked and that meant a reduction of public revenue. This forced the countries to find new ways to balance the public budgets. The global economy is still facing slow growth, high global uncertainty caused by the Russian-Ukrainian war, rising prices of energy and high level of inflation. This paper presents the situation from the past two years, as well as perspectives based on the Taxation Trends in the EU.

Suggested Citation

  • Gica Gherghina Culita, 2023. "Taxation And The Fiscal Policies Under The Impact Of The Covid-19 Pandemic In The European Union," Management Strategies Journal, Constantin Brancoveanu University, vol. 59(1), pages 121-129.
    • Handle: RePEc:brc:journl:v:59:y:2023:i:1:p:121-129
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    More about this item

    Keywords

    taxation; COVID -19; fiscal policies; public expenditures; public revenues;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E63 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

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