MANAGEMENT ANALYSIS OF THE IMPACT OF COVID-19 IN ROMANIA

George Bucata
Additional contact information
George Bucata: LUCIAN BLAGA UNIVERSITY, SIBIU, ROMANIA

Annals - Economy Series, 2021, vol. 4, 50-62

Abstract: The world economy is facing one of the worst economic crises since the Great Depression (1929-1933). The economists' forecasts assume that their effects will go beyond the extent of an economic crisis. The Romanian economy could not remain unaffected by these effects, given its dependence on global economic mechanisms and its integration into European and global value chains. In addition, the structure of the Romanian economy makes it vulnerable to the effects of COVID-19: primary resource processing and mechanical engineering, the main areas that contribute to GDP formation, are the ones that are mostly hit by the recession and the service sector is exposed to restrictions during a pandemic. The Romanian economy is experiencing one of the largest contractions in Europe at 12.3% (according to Eurostat) and is only surpassed by those countries whose GDP is based on tourism – Spain, Croatia, Greece, Hungary, Portugal, France, Italy.

Keywords: crisis management; health management; crisis communication; COVID-19 management; COVID-19 Government Policies; European Union Policies (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.utgjiu.ro/revista/ec/pdf/2021-04/07_Bucata.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2021:v:4:p:50-62

Access Statistics for this article

More articles in Annals - Economy Series from Constantin Brancusi University, Faculty of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Ecobici Nicolae ( this e-mail address is bad, please contact ).