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Türkiye’s Fight Against COVID-19 Pandemic

MEASURES TAKEN AGAINST THE ECONOMIC AND

FINANCIAL IMPACTS OF THE PANDEMIC

he measures taken by the countries in response to the COVID-19 outbreak,
Twhich first emerged in China and spread to nearly 185 countries, have
affected the economic life as well as social relations and revealed its economic
impacts in China first.

Although the impacts of the pandemic on the economy have not been
determined clearly due to the slowdown in economic activities, border closures,
and the uncertainties surrounding both the supply-side and demand-side
economics, it has been observed that the stagnation caused by the measures
taken to contain the spread of the virus caused a slowdown in national and
global economic activities. For this reason, all countries have brought up
important measures to survive this process with minimal damage.

The financial measures taken in the process of combating the pandemic
can be categorized into two purposes. The first one is to support people, who
lost their jobs and income, and companies during the outbreak. The second
one is to maintain the functioning of the country’s economy in general, which
depends on the first goal, and to provide a continuous supply chain.

In this context, Türkiye felt the need to take certain measures to mitigate
the expected negative situations in economic and commercial activities due to
COVID-19. The 200 billion Turkish lira ($28.5 billion) Economic Stability
Shield package was introduced to minimize the impacts of the pandemic.

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