Abstract:

The purpose of this study is to investigate the effects of the Covid-19 pandemic on the economies of the Seven Most Developed Economies (G7) countries (Germany, United States of America (USA), United Kingdom, Italy, France, Japan, Canada) and some countries in the emerging market economies group (China, India, Brazil, Russia, Turkey).In addition, it aims to compare and evaluate the economic support packages announced by these countries. The study first analyzes the economic growth rates of countries according to the years before and after the pandemic. Due to the pandemic, it is seen that the economic growth rates of all other countries examined in the study, except China, India and Turkey, were negative in 2020.Therefore, it was determined that most countries experienced a contraction in their economies. The UK announced an economic support package of 4% of its national income, Japan 18.4%, China 9.3%. The US announced an economic support package worth 2.2 trillion dollars, Canada 56.4 billion dollars, Germany 13 billion dollars, Italy 28.3 billion dollars, Russia 12 billion dollars, Turkey 240 billion TL. With the effect of the economic support packages implemented, economic growth rates in 2021 were realized positively in all countries included in the study. As a result of the study, it was observed that a significant portion of tax debts and loan guarantees were postponed within the economic support packages of all countries. G7 countries were found to provide more cash expenditure and revenue support than emerging market economies

Keywords: