For some countries the source specified the share of stimulus package as share of GDP and these figures were used in the statistic. For the remaining countries the ratio has been calculated using information provided by the source (summed values of the stimulus packages) and latest country GDP figures (2020 for most of the countries). Exchange rates as of November 19, 2021 were used.
Values for South Korea were calculated using the exchange rate on August 25, 2022.
The South African government did not implement specific stimulus packages, but introduced other measures such as strengthening the Unemployment Insurance Fund and the Industrial Development Corporation.
Citation formats
Value of COVID-19 stimulus packages in the G20 as share of GDP 2021
As of November 2021, the U.S. goverment dedicated percent of the GDP to soften the effects of the coronavirus pandemic. This translates to stimulus packages worth **** trillion U.S. dollars
Economic impact of the Coronavirus pandemic
The impact of the COVID-19 pandemic was felt throughout the whole world. Lockdowns forced many industries to close completely for many months and restrictions were put on almost all economic activity. In 2020, the worldwide GDP loss due to Covid was *** percent. The global unemployment rate rocketed to **** percent in 2020 and confidence in governments’ ability to deal with the crisis diminished significantly.
Governmental response
In order to stimulate the economies and bring them out of recession, many countries have decided to release so called stimulus packages. These are fiscal and monetary policies used to support the recovery process. Through application of lower taxes and interest rates, direct financial aid, or facilitated access to funding, the governments aim to boost the employment, investment, and demand.
Stimulus packages
Until November 2021, Japan has dedicated the largest share of the GDP to stimulus packages among the G20 countries, with percent (*** trillion Yen or **** trillion U.S. dollars). While the first help package aimed at maintaining employment and securing businesses, the second and third ones focused more on structural changes and positive developments in the country in the post-pandemic future.
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IMF. (November 19, 2021). Value of COVID-19 fiscal stimulus packages in G20 countries as of May 2021, as a share of GDP [Graph]. In ÌÇÐÄÆƽâ°æ. Retrieved July 24, 2026, from /statistics/1107572/covid-19-value-g20-stimulus-packages-share-gdp/
IMF. "Value of COVID-19 fiscal stimulus packages in G20 countries as of May 2021, as a share of GDP." Chart. November 19, 2021. ÌÇÐÄÆƽâ°æ. Accessed July 24, 2026. /statistics/1107572/covid-19-value-g20-stimulus-packages-share-gdp/
IMF. (2021). Value of COVID-19 fiscal stimulus packages in G20 countries as of May 2021, as a share of GDP. ÌÇÐÄÆƽâ°æ. ÌÇÐÄÆƽâ°æ Inc.. Accessed: July 24, 2026. /statistics/1107572/covid-19-value-g20-stimulus-packages-share-gdp/
IMF. "Value of Covid-19 Fiscal Stimulus Packages in G20 Countries as of May 2021, as a Share of Gdp." ÌÇÐÄÆƽâ°æ, ÌÇÐÄÆƽâ°æ Inc., 19 Nov 2021, /statistics/1107572/covid-19-value-g20-stimulus-packages-share-gdp/
IMF, Value of COVID-19 fiscal stimulus packages in G20 countries as of May 2021, as a share of GDP ÌÇÐÄÆƽâ°æ, /statistics/1107572/covid-19-value-g20-stimulus-packages-share-gdp/ (last visited July 24, 2026)
Value of COVID-19 fiscal stimulus packages in G20 countries as of May 2021, as a share of GDP [Graph], IMF, November 19, 2021. [Online]. Available: /statistics/1107572/covid-19-value-g20-stimulus-packages-share-gdp/
