Informes Del Grupo De Trabajo Mixto Covid-19. the Economic Consequences of Covid in Spain and How to Deal with Them

This paper focuses on the economic consequences of the Covid pandemic in Spain and on what should be done to mitigate them. After briefly describing the channels through which the virus affects economic activity, we provide some data on the evolution of output and employment during the pandemic and on its incidence on public finances. In the final part of the paper we discuss the main measures that have been taken to mitigate the economic consequences of the health crisis and conclude with some reflections on what else should be done. We emphasize the need to build a broad social and political consensus on the key elements of economic policy over the next few years and outline a strategy to deal with the crisis that combines short and long-term measures to speed up the recovery and set the foundations for future growth.