Public Spending as a Social Tool of the State: Lessons in Times of COVID-19 for Colombia

Abstract

In 2020, a global pandemic was declared due to a dangerous disease called COVID-19. To avoid contagion and the saturation of the health system, lockdowns were carried out, interrupting general economic activity, bringing definitive closures of commercial establishments, and sudden job losses. The only way to overcome this socioeconomic problem is through the action of the public administration, employing economic policy tools framed within the social State of Colombian law. The national Government has an institutional capacity measured by public spending, which has been used in previous economic crises. For this, a history of the crises of the last thirty years is presented, the highest public spending on them is analyzed, and comparisons are made. Also, other variables such as inflation, employment, and public debt are reviewed, which allows a comprehensive understanding of the role of economic policy. The results show that such a complex situation must be faced quickly and promptly, unifying the efforts