GALLINA ANDRONOVA VINCELETTE, REENA BADIANI-MAGNUSSON, MONA PRASAD write: Two years into a pandemic that has shaken the world, policymaking remains a delicate balance between protecting those who cannot always protect themselves, nurturing the recovery, and keeping debt at manageable levels. The unprecedented policy support from EU institutions and member state governments throughout the pandemic has helped to cushion the worst impacts on employment and income. This, coupled with the rapid adaptation of firms and households to a ‘new normal,’ has helped to keep national economies afloat and societies running. Unemployment has remained in check and household incomes have been relatively stable thanks to a raft of firm support and social protection measures. Salary subsidies, generous leave allowances and debt holidays extended since early 2020 are just a few of the interventions that would, prior to the pandemic, have been unthinkable in the scale that we saw in 2020, blurring the lines between the public and private sectors
go to World Bank blogs: Standing at a Crossroads: Economic Recovery Plans in EU Essential to Deliver Inclusive and Green Growth (worldbank.org)
