Conclusion

The pandemic, which has created great economic pressures on states and millions of people across Europe and the world, will be remembered for many years with severe economic damage and the deaths it caused.

1n this case, economically:

- The state will enter the market as a distributor and stabilizer, preventing the destructive damage.

- Tax revenues will not be collected, rather be postponed.

- The deterioration of budget balances will not be considered.

- Businesses and their employees will be protected.

New ones have been added to the protection and support measures of countries and supranational organizations. Although some countries are indecisive about the amount and scope of the new support, the support will continue.

Economic measures were also taken in Turkey while struggling for the prevention of the pandemic. State aids and credit opportunities were kept open. However, the devastating effect of the pandemic will still be seen after it is over. For now, lost jobs and closed businesses continue to be a problem. Although the state has given up taxes, as the pandemic continues, the due day is coming for deferred taxes. What matters is cash positions. The number of cities in Turkey capable of tax collection below 10% approaches to 20.

Stopping the epidemic and ensuring resuming the normal life is the primary goal. As the epidemic continues, the effectiveness of the support packages will decrease. Suspending the production is a temporary solution. Simply “stopping the life” without sticking to the measures against the pandemic will have many unin­tended consequences. Financial fluctuations from manufacturing to distribution and even to the retail sector must be brought under control.

Sectors such as automotive, white goods, clothing, airline, travel, iron and steel, which constitute the main branches of the industry, have certainly suffered greatly from this process. Naturally, the banking sector, which is fed by the real sector, seems to have been adversely affected by this process.

Cautious optimism will be the source of the upward movement for the markets. The second half of the year was more productive considering the BIST index. Recovery in financial sector is as much essential as it is in the retail, food and pharmaceutical sectors.

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Elif Aysje JSahin Ipek is an Associated Professor Doctor of Public Finance at Izmir Katip Celebi University, Faculty of Economics and Administrative Sciences.

Ibrahim Attila Acar has books, articles and papers on public strategic management, public finan­cial management and control law (Law No: 5018), health and education economy, refugees crisis, auditing, financial management and budgeting. He was a member of the Specialization Commis­sion in the Development Plans of 9-10 and 11 and involved in quality, effectiveness, univer­sity rankings, European University Association higher education assessment and rating studies in higher education. He worked as a panelist and independent evaluator of TUB1TAK and Devel­opment Agencies. He participated in programs in written and visual media. He prepared and presented the Economic Agenda program at TRT for many years. The analyzes are located in its own website, acarhoca.com. He worked at Suleyman Demirel University for 10 years. And he is currently working at the Department of Economics, Faculty of Economics and Administrative Sciences at Izmir Katip Celebi University. He was the Vice Rector and the founding dean at the same university.