5.5 Conclusion

As a result of the time that has passed since the emergence of the COVID-19 outbreak, the global economy has stalled. The collapse process of economies in the world has begun. The economic shock effect of the COVID-19 pandemic negatively affected the sectors that directly benefit from natural resources (primary sector) in the economy, especially agriculture, the sector including industrial activities (secondary sector) and the industry where all services are provided (education, finance and tourism sectors, etc.).

With the thought that the epidemic will cause a worldwide recession, many Euro­pean countries, as well as the USA, have implemented emergency packages of billions of dollars. These packages include measures such as providing cash aid to those in need, creating liquidity for businesses, providing financial support to major sectors affected by the virus such as tourism and creating rescue packages considering the airline companies canceling their flights.

As a result, the health measures taken and the health system and capacities of countries will play a decisive role in combating the global pandemic. However, the epidemic has also become the cause of the economic crisis affecting the whole world. Therefore, if the results of the fiscal measures announced and put into practice do not create a positive effect as expected, not the country that cannot be successful alone, but the whole world, which is economically integrated with each other, will not quickly exit from the recession.

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Tulin Canbay was born in 1969 in Aydin. After attending Aydin High School, she continued her undergraduate studies at Dokuz Eylul University, Department of Finance. She received her master’s degree in Financial Law from Dokuz Eylul University. In 1999, she was awarded her Ph.D. degree from Dokuz Eylul University Department of Public Finance. Her Ph.D. thesis covered the topics of budget reform.

In 2002-2005, she worked as a visiting professor at the Kyrgyz-Turkish Manas University. Professor Dr. Tulin CANBAY has books, articles and papers on tax, budget, women’s studies, migration. She is currently working at the Department of Public Finance at Manisa Celal Bayar University/Turkey.

Hilal Balci Cura is a lecturer of Social Security Program at Manisa Celal Bayar University, K1rkaj5a9 Vocational School. She received her bachelor’s degree from Faculty of Law, Selfuk University, Konya, Turkey in 2005. Hilal Cura is graduate student of Fiscal Law at Manisa Celal Bayar University, Institue of Social Sciences. Her research focuses on social security, public finance, law and fiscal law. Hilal Cura has authored and contributed to book chapters and articles on these research areas.