As of November 2021, the U.S. goverment dedicated 26.46 percent of the GDP to soften the effects of the coronavirus pandemic. This translates to stimulus packages worth 5.54 trillion U.S. dollars

Economic impact of the Coronavirus pandemic

The impact of the COVID-19 pandemic was felt throughout the whole world. Lockdowns forced many industries to close completely for many months and restrictions were put on almost all economic activity. In 2020, the worldwide GDP loss due to Covid was 6.7 percent. The global unemployment rate rocketed to 6.47 percent in 2020 and confidence in governments’ ability to deal with the crisis diminished significantly.

Governmental response

In order to stimulate the economies and bring them out of recession, many countries have decided to release so called stimulus packages. These are fiscal and monetary policies used to support the recovery process. Through application of lower taxes and interest rates, direct financial aid, or facilitated access to funding, the governments aim to boost the employment, investment, and demand.

Stimulus packages

Until November 2021, Japan has dedicated the largest share of the GDP to stimulus packages among the G20 countries, with 53.69 percent (308 trillion Yen or 2.71 trillion U.S. dollars). While the first help package aimed at maintaining employment and securing businesses, the second and third ones focused more on structural changes and positive developments in the country in the post-pandemic future.

Global governments are set to spend billions in stimulus packages to boost economies in a post COVID-19 world. During the pandemic, emissions levels dropped significantly, giving governments the opportunity to introduce green stimulus packages to mitigate the climate crisis. As of May 2020, France had committed almost 10 billion U.S. dollars in green stimulus packages. This includes environmental conditions for airline bailouts in addition to money to promote cycling and electric vehicles.

Between March and May 2020, the Peruvian government released a coronavirus (COVID-19) stimulus package that represented nearly nine percent of its GDP and was the largest in the region. By contrast, Mexico and Colombia only spent 0.5 and 0.4 of their GDPs on liquidity support to combat the consequences of the COVID-19, respectively.

As of 2020, Egypt was the North African country with the highest financial stimulus package, at around 7.7 billion U.S. dollars. Tunisia and Morocco provided stimulus packages worth 1.6 billion and 1.4 billion U.S. dollars, respectively.

In December 2020, the United States Congress signed into effect the COVID-Related Tax Relief Act which would give 600 U.S. dollars of aid to almost every American in response to the COVID-19 pandemic. By the end of January 2021, Americans living in households with an income of less than 46,000 U.S. dollars a year had spent an average of 126 U.S. dollars from their stimulus checks. In comparison, those living in households with an income of more than 78,000 U.S. dollars a year spent 45 U.S dollars of the same check.

Comparing the stimulus packages

The COVID-Related Tax Relief Act was the second stimulus package that was passed in response to the pandemic in the United States. In April 2020, congress passed a two trillion U.S. dollar economic relief package called the Coronavirus Aid, Relief, and Economic Security (or CARES) Act. This package provided every American in need with 1,200 U.S. dollars. Around 81 percent of Americans approved of this relief package and supported its passing. However, after the first CARES Act check of 1,200 U.S. dollars, many Americans felt that the second stimulus check of 600 U.S. dollars was too little to help, especially when compared to the stimulus paid out by other nations. Among G20 member countries, the United States came in fourth in size of COVID-19 fiscal stimulus packages as a share of the nation's gross domestic product (GDP), at 13.2 percent. In comparison, Japan passed the largest fiscal stimulus package, which amounted to about 21.1 percent of its GDP.

COVID-19: impact on employment in the United States

Many Americans depended greatly on the economic relief provided by the stimulus package, as many businesses were forced to let their employees go due to economic strain, as can be seen in the unemployment rate in the United States. Some industries suffered more than others, such as the leisure and hospitality industry, which suffered the highest unemployment rate of any industry at 15.9 percent as of January 2021 (not seasonally adjusted), largely due to its dependence on tourism and travel, which were greatly restricted under coronavirus-related restrictions. As of February 2021, approximately 15 percent of Americans with an income of less than 50,000 U.S. dollars reported that they had personally lost a job due to the pandemic.

Between April 27 and May 7 2020, many governments in Latin America and the Caribbean announced the launch of financial aid plans to help fight the economic crisis spawned by the novel coronavirus pandemic. In Peru, for instance, the national government assigned an economic stimulus package equivalent to almost nine percent of the country's gross domestic product (GDP). In turn, the state aid provided by the Mexican government represented around one percent of Mexico's GPD.

This poll, fielded April 5-12, 2010, is a part of a continuing series of monthly surveys that solicits public opinion on the presidency and on a range of other political and social issues. Respondents were asked whether they approved of the way that Barack Obama was handling his job as president, the economy, health care, and the federal budget deficit, what they liked best and least about Obama, whether they thought things in the country were going in the right direction, and what they thought was the most important problem facing the country. Information was collected on whether respondents approved or disapproved of the way Congress was handling its job, whether they approved or disapproved of the way their representative in Congress was handling their job, whether they had a favorable or unfavorable opinion of President Obama, how respondents would rate the national economy, and who they thought was mostly to blame for the state of the national economy. Respondents were queried on whether they thought that the government's stimulus package made the economy better or worse, whether they thought that the country needed a third political party, whether they would rather have a smaller government with fewer services or a bigger government providing more services, how they felt things were going in Washington, DC, whether they thought the federal government should spend money to create jobs even if it means increasing the budget deficit, and whether they would rather reduce the federal budget deficit or cut taxes. Respondents were also asked who they thought was to blame for the current federal budget deficit, whether they thought providing government money to banks and other financial institutions was necessary to get the economy out of a recession, whether they had a favorable or unfavorable opinion of the Republican Party, the Democratic Party, John McCain, George Bush, Ron Paul, Glen Beck, and Sarah Palin. Information was collected on what political figure the respondents admired most, whether they thought Sarah Palin would have the ability to be an effective president, whether they thought President Obama understands the need and problems of people like themselves, whether respondents thought he was more of a liberal, a moderate, or a conservative, whether they thought his policies were moving the country more towards socialism, whether they thought he favored a particular race over another, and whether they thought the Obama Administration had raised or lowered taxes for most Americans. Respondents were asked whether they thought that the federal government should require nearly all Americans to have health insurance, whether they thought it would be a good idea to raise income taxes on households that make more than $250,000 a year in order to help provide health insurance for people who do not already have it, whether they approved or disapproved of requiring health insurance companies to cover anyone who applies regardless of whether they have an existing medical condition, and whether they thought that the programs such as Social Security and Medicare are worth the cost of those programs for taxpayers. Respondents were queried on whether they thought legal immigration into the United States should be kept at its presents level, increased, or decreased, how serious a problem they thought illegal immigration was, whether they thought that global warming was causing a serious environmental problem, whether they thought gay couples should be allowed to marry, whether they thought abortion should be legal, whether they thought gun control law should be made more strict, what socialism means to them, and whether they thought it was ever justified for citizens to take violent action against the government. Respondents were also asked a number of questions about the Tea Party movement, including how much have they heard about it, whether they had a favorable opinion of it, whether they supported it, and whether they thought the Tea Party movement generally reflected the views of most Americans. Finally, respondents were asked if they were ever active in a political campaign, whether they purchased gold bars or coins in the past year, what political party they usually vote for, what news network they watched most, how concerned were they that they or someone in their household would lose their job in the next year, whe

During the Great Recession of 2008-2009, the advanced economies of the G7 experienced a period of acute financial crises, downturns in the non-financial economy, and political instability. The governments of these countries in many cases stepped in to backstop their financial sectors and to try to stimulate their economies. The scale of these interventions was large by historical standards, with observers making comparisons to the measures of the New Deal which the U.S. undertook in the 1930s to end the Great Depression.

The bailouts of financial institutions and stimulus packages caused the government debt ratios of the United States, United Kingdom, and Japan in particular to rise sharply. The UK's government debt ratio almost doubled due to the bailouts of Northern Rock and Royal Bank of Scotland. On the other hand, the increases in government debt in the Eurozone were more measured, due to the comparative absence of stimulus spending in these countries. They would later be hit hard during the Eurozone crisis of the 2010s, when bank lending to the periphery of the Eurozone (Portugal, Spain, Ireland and Greece in particular) would trigger a sovereign debt crisis. The Canadian government, led by a Conservative premier, engaged in some fiscal stimulus to support its economy, but these packages were small in comparison to that in most other of the G7 countries.

As an attempt to curb the effects of the coronavirus pandemic in the economy, the majority of governments in East Africa announced economic stimulus packages. As of September 2020, the fiscal relief in Ethiopia, country with most COVID-19 cases in the region, amounted to 1,640 million U.S. dollars. In Kenya, the stimulus package was measured at 506 million U.S. dollars.

In an attempt to contain the impacts of the coronavirus pandemic in the economy, the majority of governments in East Africa announced economic stimulus packages. As of September 2020, the fiscal relief in Ethiopia, country with most COVID-19 cases in the region, reached two percent of the Gross Domestic Product. In Kenya, the stimulus package was at 0.6 percent of the GDP.

Commonwealth funding for the management of World Heritage properties, 2011/12 - 2015/16. Data sources: Heritage Branch, Department of the Environment and Energy Parks Australia Great Barrier Reef …Show full descriptionCommonwealth funding for the management of World Heritage properties, 2011/12 - 2015/16. Data sources: Heritage Branch, Department of the Environment and Energy Parks Australia Great Barrier Reef Marine Park Authority Director of National Parks NOTES:- 2008/09 to 2012/13 - Includes projects from Caring for our Country, Your Community Heritage, Working on Country and Jobs Stimulus Package (2008/09 to 2009/10). 2013/14 to 2014-2015 - Includes projects from World Heritage Grants Program, Your Community Heritage, Working on Country and Biodiversity Fund Only funding for World Heritage values for which the property was listed, e.g. natural or cultural has been included. GBRMPA figures are 'Total Cash Received' from GBRMPA annual reports No funding was provided for Heard and Macdonald Islands The Commonwealth jointly manages Kakadu National Park and Uluru-Kata Tjuta National Park with traditional owners. The figure provided for each financial year is the total expenditure in this reserve for operational costs (i.e. staffing, supplies, repairs and maintenance) and capital expenditure (e.g. replacement of infrastructure, provision of essential services). The figures do not include depreciation or payments to traditional owners under the leasing arrangements. Not included in this data:- Funding for World Heritage assessment Caring for our Country projects which were carried out outside World Heritage properties which were intended to facilitate the management of those properties e.g. by controlling introduced weeds or pests, improving water quality of waterways running into properties, improving connectivity of vegetation of adjacent properties with a World Heritage property Funding under Green Army or 20 Million Trees Programmes. Figure HER22 in Heritage theme. https://soe.environment.gov.au/theme/heritage/topic/2016/inputs-financial-resources#heritage-figure-HER22

Public opinion on whether the European Union's NextGenerationEU economic recovery plan will be beneficial for EU citizens' home state is divided quite clearly between countries in Northern Europe and those in South and Eastern Europe. Unsurprisingly, the 'frugal four', four member states (Austria, Denmark, the Netherlands, and Sweden) who have become infamous for opposing collective EU spending, come towards the bottom of the list, along with the EU's two main power brokers, France and Germany. The citizens most positive about the effects of the plans on their countries are from Southern European countries such as Portugal, Spain, and Italy, as well as eastern member states such as Poland, Hungary and Slovenia.

This special topic poll is part of a continuing series of monthly surveys that solicits public opinion on the presidency and on a range of other political and social issues. In this poll, fielded January 11-15, 2009, respondents were asked whether they approved of the way George W. Bush handled his job as president, the situation with Iraq, the campaign against terrorism, and the economy during his eight years in office. Respondents were asked their opinions about Barack Obama, their predictions about what kind of president he was going to be, how confident respondents were in his abilities to make the right decisions about the economy and things relating to the war in Iraq, and whether respondents thought Obama was going to create new jobs, cut taxes, and improve the economy during his term as president. Several questions addressed Obama's Cabinet selections and whether his administration would make progress in providing affordable health care, ending the war in Iraq, and fixing the nation's economy. Respondents were also asked their opinions of Joe Biden, Michelle Obama, and Dick Cheney. Information about respondents' personal financial situation was also collected including the biggest financial concern facing them, how respondents rated their own financial state, how concerned they were about paying their housing costs, how much the decline in home values had affected them, whether their household income was enough to meet their bills and obligations, whether they felt secure about their household's financial future, whether they would be able to make payments on a large purchase, whether they have had to postpone making a major purchase due to the economy, and whether any long term plans have changed for them and their families as a result of the economy. Respondents were also polled on whether the country was going in the right direction, whether the condition of the economy was good, what they thought was the most important problem facing the country, and how they viewed the country compared to five years previously and five years into the future. Additional topics addressed stock market investments, job security, whether homosexuals should serve in the military, the economics stimulus package, the United States military prison in Guantanamo Bay, whether the United States should increase the number of troops in Iraq and Afghanistan, the legalization of marijuana, whether American or foreign automakers produced better quality vehicles, whether the federal government should provide national health insurance, whether there were more advantages to being a man or a woman in society, and whether respondents approved of premarital sex and homosexual relations. Demographic variables include sex, age, race, education level, marital status, household income, political party affiliation, political philosophy, voter registration status and participation history, employment status, perceived social class, whether there were children under the age of 18 living with the respondent, whether respondents owned their home, religious preference, and whether respondents considered themselves to be a born-again Christian.

United States CES: CM: Personal Taxes: 2008 Tax Stimulus data was reported at -949.000 USD in 2008. United States CES: CM: Personal Taxes: 2008 Tax Stimulus data is updated yearly, averaging -949.000 USD from Dec 2008 (Median) to 2008, with 1 observations. United States CES: CM: Personal Taxes: 2008 Tax Stimulus data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.H042: Consumer Expenditure Survey: By Occupation.

United States CES: Northeast: Personal Taxes: 2008 Tax Stimulus data was reported at -757.000 USD in 2008. United States CES: Northeast: Personal Taxes: 2008 Tax Stimulus data is updated yearly, averaging -757.000 USD from Dec 2008 (Median) to 2008, with 1 observations. United States CES: Northeast: Personal Taxes: 2008 Tax Stimulus data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.H043: Consumer Expenditure Survey: By Region.

The NextGenerationEU economic stimulus plan is set to be implemented according to each European Union member state's national recovery & resilience plan between 2021 and 2026. The stimulus effect which this will have varies across the different member states, with those states which are set to receive a relatively large stimulus package compared with their GDP experiencing a greater boost to growth than others, according to GDP forecasts.

Countries such as Greece, Bulgaria, and Croatia are set to experience as much as three percent additional GDP growth over the target years for the NextGenEU programs. On the other hand, countries such as Sweden, the Netherlands, and Austria, who will receive relatively smaller packages, will experience additional GDP growth of less than one percent per year, mostly caused by spillovers from other countries' plans. While the packages are to be dispersed between 2021 and 2026, the effect on GDP growth in many countries is set to be long-lasting, with growth being boosted into the 2030s.

The NextGenerationEU economic stimulus package was decided upon by the European Union's member states and institutions in the wake of the Coronavirus pandemic. The stimulus package and programs are designed to stimulate long-term growth in the European economy by focusing on the green transition, digitalization, and economic, social & institutional development of the EU member states.

Each member state was given discretion to decide which areas they would focus on in their national recovery & resilience plans. In terms of which countries will spend the most out of their NextGenEU funds on digitalization, Germany, Spain, and Austria come at the top of the list. Germany in particular will spend more than half of its funds on digitalization, as the EU's manufacturing and exports powerhouse attempts to transition its economy towards more digitalized industries and to improve the use of technology in its public administration. At the bottom of the list comes Denmark, which is perhaps unsurprising as its consistently ranked as one of the EU member states which is already a leader in digital services and technology.

The impact on European Union member states' GDP growth from the NextGenerationEU economic stimulus is set to diverge between the different states. States which will receive a relatively large package when compared with their GDP, such as Greece, Bulgaria, and Croatia, will experience large increases in GDP growth, mostly caused by the direct effects of the stimulus. On the other hand, countries such as Sweden, Denmark, and Ireland, who will receive a relatively small amount of funds compared to their overall GDP, will experience only small increases in GDP growth of less than 0.5 percent. For these countries which will receive smaller packages, the majority of their additional growth will be as a result of spillovers from other countries' investments.

Following the economic fallout from the COVID-19 pandemic, the European Union agreed on an economic stimulus package with its member states, known as the Next Generation EU (NextGenEU) recovery package. The largest component of NextGenEU is the Recovery and Resilience Facility (RRF), an instrument that will provide 338 billion Euro in grants and 390 billion Euro in loans to EU member states in order to invest in the long-term economic recovery from the pandemic.

The RRF focuses on three areas of the member states' economies which are in urgent need of investment - provisions for a transition to green (renewable) energy sources, digitalization and modernization, and social, economic & institutional development. The member states were required to submit national plans for how they would spend the funds, with each member state largely free to determine its own needs.

Around 45 percent of the total RRF funds were allocated to Green Transition projects (not including projects which have a Green Transition element combined with one of the other categories), with member states such as Denmark, Poland, Belgium and Ireland allocating most of their funds to this category. On the other hand, Greece, Slovakia, Latvia and Cyprus all allocated more funds to projects which focus on social, economic, and institutional development. Germany was the country which dedicated the greatest share of its RRF funds to digital transformation, with around 37 percent of its total.

The statistic lists the 20 countries with the lowest inflation rate in 2023. In 2023, China ranked 5th with a inflation rate of about 0.23 percent compared to the previous year. Inflation rates and the financial crisis Due to relatively stagnant worker wages as well as a hesitation from banks to so easily distribute loans to the ordinary citizen, inflation has remained considerably low. Low inflation rates are most apparent in European countries, which stems from the on-going Eurozone debt crisis as well as from the global financial crisis of 2008. With continuous economical struggles and a currently sensitive economic situation throughout Europe, precautions were taken in order to maintain stability and to prevent consequential breakdowns, such as those in Greece and Spain. Additionally, the average European consumer had to endure financial setbacks, causing doubt in the general future of the entire European Union, as evident in the consumer confidence statistics, which in turn raised the question, if several handpicked countries should step out of the EU in order to improve its economic position. Greece, while perhaps experiencing the largest economic drought out of all European countries, improved on its inflation rate. The situation within the country is slowly improving itself as a result of a recent bailout as well as economic stimulus packages issued by the European Union. Furthermore, the Greek government managed its revenues and expenses more competently in comparison to the prime of the global and the Greek financial crisis, with annual expenses only slightly exceeding yearly revenues.