La finanza pubblica al tempo della pandemia

Translated title of the contribution: [Autom. eng. transl.] Public finance at the time of the pandemic

Paolo Balduzzi, Maria Flavia Ambrosanio

Research output: Contribution to journalArticle

Abstract

[Autom. eng. transl.] As we all know, in 2020 the world economy had to deal with the dramatic effects of the COVID-19 pandemic. The contagion containment measures have caused an extraordinary slowdown in economic activity: the International Monetary Fund (IMF) calculates a reduction in world GDP of 3.5% in 2020 1; the European Commission's autumn forecast estimates a 7.8% contraction of Eurozone GDP. For Italy, the situation is even worse: the most recent ISTAT data indicate a reduction in GDP of 8.8%, with significant repercussions on employment and the loss of about 450,000 jobs. This is the scenario faced by the management of public finance along 2020 and also the preparation of the budget law 2021 (Law 30 December 2020, n.178, State budget for the financial year 2021 and budget multi-year for the three-year period 2021-2023). The health emergency has also stimulated the response from the EU, first in terms of reducing constraints on the budget and economic policy of the member countries, and then also of the availability of huge extraordinary resources, significantly changing the financial framework public. The most important of these initiatives, called NextGenerationEU, is worth around € 750 billion
Translated title of the contribution[Autom. eng. transl.] Public finance at the time of the pandemic
Original languageItalian
Pages (from-to)238-247
Number of pages10
JournalAGGIORNAMENTI SOCIALI
Volume72
Publication statusPublished - 2021

Keywords

  • Finanza pubblica

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