THE IMPACT OF COVID-19 PANDEMIC ON THE ROMANIAN ECONOMY IN THE YEAR 2020

• Main Author: WIEGAND HELMUT FLEISCHER
• Format: Article
• Language: English
• Published: Academica Brâncuşi 2021-02-01
• Series: Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie
• Subjects: impact of covid-19 pademic; gdp; unemployment rate; inflation
• Online Access: https://www.utgjiu.ro/revista/ec/pdf/2021-01/18_Fleischer1.pdf

The aim of the paper “The Impact of COVID-19 Pandemic on the Romanian Economy in the Year 2020” is to analyse the most important macroeconomic indicators of the Romanian economy in the year 2020 from the prospect of the impact of the COVID-19 pandemic in order to quantify the impact of the health crisis on the economic activity and the volume of foreign trade. We will analyse the evolution of the GDP, the unemployment rate, the gross public dept (5 of GDP) and the current account balance (% of GDP) in Romania, the evolution of the trade result and the inflation in Romania and compare the actual figures with the figures from the previous year without influecences from the Corona pandemic. After that, we will make some recommendation in order to reduce the negative influences for the Romanian economy and to improve the evolution of the Romanian GDP, to reduce the unemployment rate and the inflation in our country, to improve the trade result of Romania. In addition, we will present the general trends of economic evolution in the pandemic context and the opportunities that economic actors should take advantage of. The results of this analysis should be of real interest to decision-makers, investors, managers, students, the media, and other users in general.