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

<p>The crisis caused by the COVID-19 pandemic led to an increase in budget deficits. This resulted in significant growth in the general debt of many countries. The average debt in the European Union countries has exceeded 90% of GDP and is still growing. General government debt is one of the world’s most significant financial and economic problems today. The main objective of this work is to present the scale and reasons for the increase in general government debt in the European Union countries during the current crisis. In addition, attention was paid to the impact of debt on economic growth.</p>
</abstract>

The crisis caused by the COVID-19 pandemic led to an increase in budget deficits. This resulted in significant growth in the general debt of many countries. The average debt in the European Union countries has exceeded 90% of GDP and is still growing. General government debt is one of the world’s most significant financial and economic problems today. The main objective of this work is to present the scale and reasons for the increase in general government debt in the European Union countries during the current crisis. In addition, attention was paid to the impact of debt on economic growth.

The increase in general government debt during the coronavirus crisis in the EU countries

WSB Journal of Business and Finance

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The crisis caused by the COVID-19 pandemic led to an increase in budget deficits. This resulted in significant growth in the general debt of many countries....

The increase in general government debt during the coronavirus crisis in the EU countries

Published Online: Nov 28, 2022

Page range: 1 - 7

DOI: https://doi.org/10.2478/wsbjbf-2022-0001

Keywords
general government debt, budget deficits, coronavirus crisis, economic growth

© 2022 Grzegorz Górniewicz, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The increase in general government debt during the coronavirus crisis in the EU countries

Published Online: Nov 28, 2022

Page range: 1 - 7

DOI: https://doi.org/10.2478/wsbjbf-2022-0001

Keywordsgeneral government debt, budget deficits, coronavirus crisis, economic growth

© 2022 Grzegorz Górniewicz, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
general government debt, budget deficits, coronavirus crisis, economic growth