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The Impact of Covid-19 on Employment and Economy

Author

Listed:
  • Angelina Angelova

    (Military Academy "G. S. Rakovski", Bulgaria)

Abstract

Economic developments in Bulgaria have been marked by the adverse impact of the COVID-19 pandemic. Containment measures negatively affected supply and employment in sectors directly subject to them. The paper analyzes the economic stimulus measures taken by EU and the Bulgarian government to cope with the increasing unemployment rates, especially in the mostly affected sectors. Tourism, including travel and accommodation, agriculture and SMBs (small and medium sized businesses) suffered a large contraction. The scarring effects of the COVID-19 shock could be long lived. This makes it essential to press on with reforms facilitating the reallocation of factors of production.

Suggested Citation

  • Angelina Angelova, 2022. "The Impact of Covid-19 on Employment and Economy," Scientific Conference of the Department of General Economic Theory, University of Economics - Varna, issue 1, pages 296-302.
    • Handle: RePEc:vrn:oitcon:y:2022:i:1:p:296-302
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    File URL: https://conference.ue-varna.bg/oit2022/assets/Sbornik_dokladi_OIT_2022.pdf
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    More about this item

    Keywords

    COVID-19; Economic stimulus measures; Pandemic; Unemployment;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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