MANAGEMENT OF STATE FINANCIAL POLICY IN THE CONTEXT OF THE COVID-19 PANDEMIC

The Covid-19 pandemic has added an unprecedented element of unpredictability to the global economy. States are trying to fight the epidemic economic and social consequences by taking drastic measures, including financial intervention, in an attempt to stabilize markets. The article draws analogies with the crisis periods of the past, like the Great Depression of the 1930s, and shows that the current crisis has significant differences, which makes it difficult to apply any proven models of public financial policy to mitigate the consequences of the crisis. The necessity of strengthening the investment activity of the state, as well as the activity of the Central Bank to prevent financial panics, is substantiated, which should be carried out simultaneously with structural reforms.