STUDY OF THE EXPERIENCE OF EU COUNTRIES IN THE IMPLEMENTATION OF MEASURES TO COUNTER THE CRISIS CAUSED BY COVID-19
STUDY OF THE EXPERIENCE OF EU COUNTRIES IN THE IMPLEMENTATION OF MEASURES TO COUNTER THE CRISIS CAUSED BY COVID-19

Author(s): Mina Angelova, Daniela Pastarmadzhieva
Subject(s): Economy, National Economy, Public Finances
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: measures; crisis; COVID-19; entrepreneurship; economic development
Summary/Abstract: The present paper deals with the distinction between the measures implemented by EU countries to counter the crisis caused by the COVID-19 pandemic. It explains how the states’ efforts comply with the entrepreneurs striving for survival during this pivotal period. This is done by summarizing the measures applied by the EU-27 countries, grouping the measures into categories, and contrasting the most fundamental elements of the applied strategies in the countries and their influence toward reviving entrepreneurship. Building upon official COVID-19 websites of EU countries, secondary information processing, and desk research, the analyses indicate that 49% of the measures are economic compensations and loans, the employment-related measures count on 17%, tax measures present 15%, R&D are 5%, customs measures count on 2% and other measures are equal to 9% of all applied in the EU. These results strive for the conclusion that the future of entrepreneurial economic development is a prerequisite to overcoming the crisis conditions. As the empirical evidence documenting the reemergence of entrepreneurship, the common efforts and applied measures will strike to minimize the negative pandemic effects.

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