Sustainability of Public Finances in Times of Crisis

Abstract

In the face of crises like the COVID-19 pandemic, this article delves into the pressing need for governments to sustainably manage public finances amid economic and social turbulence. It underscores the pivotal role of fiscal sustainability during such periods of upheaval, emphasizing its significance in stabilizing budgets and fostering enduring economic recovery. By scrutinizing various fiscal strategies and policies, the article seeks to elucidate pathways towards maintaining budgetary stability while simultaneously facilitating sustainable growth. It highlights the importance of prudent financial management in navigating through tumultuous times, where the resilience and adaptability of public finances become paramount. Through an examination of effective fiscal measures, the article aims to provide insights into how governments can address immediate challenges while laying the groundwork for long-term fiscal sustainability. Ultimately, it advocates for a comprehensive approach to financial governance that prioritizes resilience and sustainability in times of crisis, thereby fortifying economies against future shocks.

Keywords

• economic crisis
• budget deficit
• public debt
• austerity measures
• economic recovery policies