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Management Analysis Of The Impact Of Covid-19 In Romania

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  • GEORGE BUCATA

    (LUCIAN BLAGA UNIVERSITY, SIBIU, ROMANIA)

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.

Suggested Citation

  • George Bucata, 2021. "Management Analysis Of The Impact Of Covid-19 In Romania," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 4, pages 50-62, August.
    • Handle: RePEc:cbu:jrnlec:y:2021:v:4:p:50-62
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    1. Srivastava, Dinesh Kumar & Kapur, Tarrung & Bharadwaj, Muralikrishna & Trehan, Ragini, 2020. "Impact of Covid-19 on global debt: a study of countries in the G-20 group," MPRA Paper 108379, University Library of Munich, Germany.
    2. Arthi, Vellore & Parman, John, 2021. "Disease, downturns, and wellbeing: Economic history and the long-run impacts of COVID-19," Explorations in Economic History, Elsevier, vol. 79(C).
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