Financial and non-financial responses to the Covid-19 pandemic: insights from Portugal and lessons for future

IMPACT

This article will help governments, politicians and professional bodies deliberate on how best to respond to future complex crises based on the way Portugal has dealt with the Covid-19 pandemic. It is crucial that governments learn from the pandemic in order to be face future crises as efficiently as possible.

ABSTRACT

This article analyses the Portuguese government’s response to the Covid-19 pandemic, discussing the main financial and non-financial measures, the successes and the future challenges. Findings show that Portugal responded rapidly to the pandemic situation with a stimulus package that not only looked at budgetary and fiscal measures, but also considered non-financial measures (regulation and flexibility). The context before Covid-19 was determinant of the capacity to act during this crisis. The article contributes to the literature about the different government responses to the pandemic and the importance of the institutional context to understand and learn from them.

KEYWORDS:

• Budget responses
• Covid-19
• fiscal and economic crisis
• pandemic
• Portugal
• stimulus package

Disclosure statement

No potential conflict of interest was reported by the author(s).