Which European economies have the most supportive government during the “economic” pandemic?
For over a year now, economies have seen a plummeting of business activity. All around Europe, many businesses were forced to close down. Several of them went bankrupt, while many people lost their jobs. The COVID-19 pandemic was not only a health crisis; it is also an economic pandemic that has spread throughout Europe and the world.
At times like this when countries face significant adverse economic impacts from the coronavirus pandemic, national governments need to lend a hand in the recovery of their economies and businesses. EuCham – European Chamber is thus launching a new research to highlight the efforts of European countries in supporting affected sectors in their economy.
In this analysis, EuCham compares the total value of economic support or recovery packages from March 2020 to March 2021 that each European country has provided for the alleviation of the negative impacts of the COVID-19 crisis. Acknowledging that economies vary in the capacity to provide recovery packages, the score will be based on the ratio between the country’s total amount in recovery packages and its gross domestic product of 2019.
Data gathering is ongoing from each country’s ministry of economy, ministry of finance, representation to the EU (European Union), and representation to OECD (Organisation for Economic Co-operation and Development). EuCham Research Department welcomes new data in order to properly present each country’s efforts in the correct light.
EuCham, the non-governmental organization dedicated to promoting business ethics in Europe, has annually published the Best European Countries for Business to also consider transparency and integrity as important factors in the overall business environment. This upcoming research is meant to do the same, as it aims to highlight noteworthy governmental efforts in making their country an attractive place to do business.
To access the available information: www.eucham.info
To submit new or corrected data: staff.cee@eucham.eu