Abstract:

The beginning of the 21st century has surprised the economies of the world¢s countries with the experience of two types of crises – the financial crisis of 2008 and the pandemic crisis of 2020 – being of different origins, concretized in the deterioration of the financial system, which began in 2008 and the health crisis of 2020; respectively, the interval between the moments of their onset was relatively short, if considering the period covered, which exceeded by two years the first two decades of the century.  Although they have had a different form of spread, globally, both events have generated imbalances that have affected the world’s economies, with severe repercussions on economic and social activities and impact on macroeconomic indicators.  For combating the effects of crises and recovering economies, governments have intervened through a set of measures consisting of monetary and fiscal policies appropriate to the concrete conditions and possibilities of the respective states. The purpose of the paper is to signal the impact of the two crises on the evolution of revenues and budgetary expenditures recorded by the Member States of the European Union, with examples on some representative countries, as well as the presentation of the measures and policies undertaken by the governments of the countries analyzed, in order to remedy the identified problems. The results capture both the vulnerability of countries’ economies, generated by the negative effects of crises and the potential for recovery, in the two crises. The research methodology used was the documentation from the specialized literature, in order to formulate and interpret ideas in the author’s own vision, as well as the analysis of statistical data with reference to budget revenues and expenditures, with examples on some Member Countries.