FISCAL AND QUASI-FISCAL MEASURES IN FACE OF THE COVID-19 PANDEMIC: SELECTED INTERNATIONAL EXPERIENCES

Abstract

In face of the Covid-19 pandemic, the active adoption of fiscal policy has been essential to mitigate both sanitary and socioeconomic effects. This paper aims to analyze and compare fiscal and quasi-fiscal measures implemented over 2020 by five countries: China, United States, Germany, United Kingdom and Brazil. In some cases, the amount of resources surpassed 20% of gross domestic product (GDP), showing the importance of such measures. In light of these selected experiences, the complementarity between sanitary and economic measures is highlighted, thus reinforcing the need for coordination between them for effectively coping with the pandemic impacts. Among countries, efforts in both sanitary policies and fiscal and quasi-fiscal resource allocation have been very diverse, directly affecting the evolution of their respective sanitary and socioeconomic conditions.

Keywords

• fiscal policy
• covid-19
• economic impacts
• pandemic
• international experiences