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

Górniewicz Grzegorz ()
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Górniewicz Grzegorz: WSB University in Gdansk, Grunwaldzka 238a, 80-266 Gdansk, Poland

WSB Journal of Business and Finance, 2022, vol. 56, issue 1, 1-7

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.

Keywords: general government debt; budget deficits; coronavirus crisis; economic growth (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:wsbjbf:v:56:y:2022:i:1:p:1-7:n:1001

DOI: 10.2478/wsbjbf-2022-0001

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