Wrażliwość budżetów publicznych i prywatnych na kryzys spowodowany pandemią COVID-19 na przykładzie polskiej gospodarki

Abstract

Purpose – To demonstrate the interdependence and assess the sensitivity of private and public budgets to the crisis caused by the COVID-19 pandemic. Research method – The method of quantitative and qualitative analysis of statistical data on household budgets, corporate finances and state and local government budgets was applied. The strength of the impact of the crisis was assessed on the basis of the difference in the dynamics of variables characterising budgets after the first year of the crisis compared to the year before the crisis. Results – Pandemic crisis has put greater strain on public budgets. Personal income tax revenues are the most sensitive to the crisis. Public budgets show a larger negative difference in revenue dynamics during the crisis than private budgets. The burden on the state budget consists of lower tax revenues and discretionary fiscal policy during the crisis. The strong impact of the behavioural factor is demonstrated by the significant increase in the dynamics of household savings. Originality/value/implications/recommendations – The article presents the author’s assessment of the distribution of the burden of the effects of the crisis between public and private budgets.