Romania Insider

Romania’s 2%-of-GDP anti-Covid economic package is among the weakest

With an economic package aimed at mitigating the economic effects of the coronavirus (Covid-19) pandemic of 2% of GDP, Romania ranks 53rd out of 190 countries surveyed by the International Monetary Fund (IMF), according to Quartz, Ziarul Financiar reported.

Romania’s support package for the economy (as a percentage of the country’s GDP) is similar to those proposed by Turkey, Tunisia, Togo, Egypt, Georgia and Ireland, but about a third of that envisaged by Poland (6% of GDP) and nine times lower than the one proposed by the Czech Republic (18% of GDP).

Germany will carry the most comprehensive economic aid package in the world, to cost over 28% of GDP, the data collected by the IMF has revealed.

Governments around the world are planning to mobilize cumulative capabilities of billions of dollars or euros to stimulate economies and economic sectors severely affected by measures taken to stop the spreading of the new coronavirus (Covid-19). In this context, the IMF has decided to analyze the incentives and policies announced by governments.

“These measures are welcome and even essential, but more will be needed. If we exchange information about our knowledge, it will help us all to overcome the crisis more effectively,” said Kristalina Georgieva, managing director of the IMF.

editor@romania-insider.com

(Photo source: Aleksandr Zubkov/Dreamstime.com)

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Romania Insider

Romania’s 2%-of-GDP anti-Covid economic package is among the weakest

With an economic package aimed at mitigating the economic effects of the coronavirus (Covid-19) pandemic of 2% of GDP, Romania ranks 53rd out of 190 countries surveyed by the International Monetary Fund (IMF), according to Quartz, Ziarul Financiar reported.

Romania’s support package for the economy (as a percentage of the country’s GDP) is similar to those proposed by Turkey, Tunisia, Togo, Egypt, Georgia and Ireland, but about a third of that envisaged by Poland (6% of GDP) and nine times lower than the one proposed by the Czech Republic (18% of GDP).

Germany will carry the most comprehensive economic aid package in the world, to cost over 28% of GDP, the data collected by the IMF has revealed.

Governments around the world are planning to mobilize cumulative capabilities of billions of dollars or euros to stimulate economies and economic sectors severely affected by measures taken to stop the spreading of the new coronavirus (Covid-19). In this context, the IMF has decided to analyze the incentives and policies announced by governments.

“These measures are welcome and even essential, but more will be needed. If we exchange information about our knowledge, it will help us all to overcome the crisis more effectively,” said Kristalina Georgieva, managing director of the IMF.

editor@romania-insider.com

(Photo source: Aleksandr Zubkov/Dreamstime.com)

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