Pandemic consequences and crisis recovery scenarios

Abstract

The global economy develops in completely new and unpredictable conditions due to the COVID-19 pandemic spread. The current COVID-19 crisis has changed the supply and demand ratio. Economic recovery requires the right macroeconomic policy to support national economies, maintain economic and financial relationships between workers and enterprises, creditors and borrowers, suppliers, and end consumers. Therefore, there is a challenge to minimize the influence of the long-term COVID-19 crisis to avoid irreparable damage to people and companies due to job losses and mass bankruptcies.