<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>A direct consequence of the pandemic was the widespread occur-rence, and in many OECD countries – a growing public finance imbalance. The paper presents the results of research on the dynamics and structure of public debt, its relation to GDP and to the net borrowing of the general government sector. The main purpose of the article is to show the impact of the pandemic on the size and structure of public debt in the largest EU economies, as well as in other selected OECD countries. An attempt was also made to identify factors that had a significant impact on the amount of public debt during the pandemic. The new debt was used primarily to finance net borrowing and, ultimately, to support the economy and selected social groups. However, as the article points out, the new debt to a significant extent financed the increase in liquidity in the public sector, and in some cases – a larger volume of loans granted by public sector entities and their equity investments.</p>
</abstract>

A direct consequence of the pandemic was the widespread occur-rence, and in many OECD countries – a growing public finance imbalance. The paper presents the results of research on the dynamics and structure of public debt, its relation to GDP and to the net borrowing of the general government sector. The main purpose of the article is to show the impact of the pandemic on the size and structure of public debt in the largest EU economies, as well as in other selected OECD countries. An attempt was also made to identify factors that had a significant impact on the amount of public debt during the pandemic. The new debt was used primarily to finance net borrowing and, ultimately, to support the economy and selected social groups. However, as the article points out, the new debt to a significant extent financed the increase in liquidity in the public sector, and in some cases – a larger volume of loans granted by public sector entities and their equity investments.

Impact of COVID-19 Pandemic on Public Debt – International Perspective

Warsaw University Faculty of Law and Administration

Studies in Logic, Grammar and Rhetoric

This work is licensed under the Creative Commons Attribution 4.0 International License.

{"article-title":"Impact of COVID-19 Pandemic on Public Debt \u2013 International Perspective"}

A direct consequence of the pandemic was the widespread occur-rence, and in many OECD countries – a growing public finance imbalance. The paper presents the...

Impact of COVID-19 Pandemic on Public Debt – International Perspective

Published Online: Dec 30, 2022

Page range: 269 - 295

DOI: https://doi.org/10.2478/slgr-2022-0014

Keywords
coronavirus pandemic, public finances, net borrowing, public debt

© 2022 Michał Bitner et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Impact of COVID-19 Pandemic on Public Debt – International Perspective

Published Online: Dec 30, 2022

Page range: 269 - 295

DOI: https://doi.org/10.2478/slgr-2022-0014

Keywordscoronavirus pandemic, public finances, net borrowing, public debt

© 2022 Michał Bitner et al., published by Sciendo

This work is licensed under the Creative Commons Attribution 4.0 International License.

Keywords
coronavirus pandemic, public finances, net borrowing, public debt