Fiscal Policies in Times of the Covid-19 Pandemic: The Case of G-7 Countries and Turkey

Year 2020, Issue: 64, 1 - 14, 22.01.2021

Çiğdem Börke Tunalı Tolga Saruç

https://doi.org/10.26650/mcd2020-825171

Abstract

Covid-19 pandemic has affected millions of people around the world and it has created devastating impact on economies both in developed and developing countries. Most of the countries in the world have implemented various fiscal measures in order to alleviate the negative economic effects of this pandemic since its beginning. These measures have resulted in a mild economic recovery during the summer months. However, as the weather becomes colder the number of cases and deaths have started to increase again (Worldometer, 2020). Since there is still not a definitive cure or a vaccine which prevents the Covid-19 pandemic it is not easy to predict when the pandemic will be over. As long as the Covid-19 pandemic continues most of the countries will probably experience economic contraction and fiscal policy will be a key tool in order to ease the negative effects of the pandemic on economies. This paper analyses fiscal policies implemented until now in G-7 countries and Turkey in response to the Covid-19 pandemic.

Keywords

Covid-19, Pandemic, Fiscal Measures, G-7 Countries, Turkey

Kovid-19 Pandemisi Döneminde Maliye Politikaları: G-7 Ülkeleri ve Türkiye Örneği

Abstract

The Covid-19 pandemic has affected millions of people around the world and it has had a devastating impact on economies both in developed and developing countries. Most of the countries in the world have implemented various fiscal measures in order to alleviate the negative economic effects of this pandemic since its beginning. These measures resulted in a mild economic recovery during the summer months. However, as the weather becomes colder the number of cases and deaths have started to increase again (Worldometer, 2020). Since there is still not a definitive cure or a vaccine which prevents the Covid-19 pandemic it is not easy to predict when the pandemic will be over. As long as the Covid-19 pandemic continues most countries will probably experience economic contraction and fiscal policy will be a key tool in order to ease the negative effects of the pandemic on economies. This paper analyses fiscal policies implemented up to now in G-7 countries and Turkey in response to the Covid-19 pandemic.

Keywords

Kovid-19, Pandemi, Mali Önlemler, G-7 Ülkeleri, Türkiye

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