COVID-19 and Public Administration: Global Economic Management

Abstract

The entire world community, starting in mid-December 2019, has come under the enormous influence of the World Coronavirus Epidemic, called COVID-19. The pandemic caused by this virus has already caused thousands of casualties around the world, imposed significant restrictions on the socio-cultural life of the population and radically changed the trends of the global economy. The main purpose of this work is to determine the status and trends of the impact of the recent pandemic situation, which is associated with the emergence of COVID-19. In the process of writing the article, the authors determined the impact of the pandemic situation in the world on the development of the public administration system in the context of economic management. It was found that the following can be considered the basic consequences of the pandemic situation in the world: decline in stock exchange indices; a significant drop in oil prices and a slowdown in the development of the precious metals market; reduction or partial termination of production in the context of economic management. The above factors indicate that today there is a real need for the implementation of anti- crisis and stabilizing measures on the part of government bodies.