The effects of the COVID-19 pandemic on the global economy with implications on the Romanian economy

Abstract

In this article, we set out to highlight the effects generated by this health crisis and the measures imposed by governments to stop it. First of all, we shall highlight the effects that this pandemic had globally and then highlight the economic effects of COVID-19 at the level of the Romanian economy. It will be found that service-oriented economies, as well as the Romanian economy, are more affected by this pandemic, given the fact that this crisis generates side effects in supply chains. Therefore, the countries most affected by the COVID-19 pandemic are those dependent on foreign trade.