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March 2021

The economic impact of lockdowns

The main economic burdens brought about by the COVID-19 pandemic are essentially twofold. The first is the extraordinary pressure on health resources and health-related expen­ditures: starting with the public information campaign, testing, contact tracing, emergency additional healthcare and extra hospitalisation spend, and more recently, vaccination. I recall the Finance Ministry put aside a provisional estimate of €20 million, which grew over the year to nearly €100 million, if we were to ... [+]