Facing the challenges of the most impacted sectors

It goes without saying that everyone has been impacted by the COVID-19 pandemic, the containment and sanitation measures that have been put in place to combat it, and the economic crisis that has ensued. But this impact has obviously not been the same everywhere, with some sectors being particularly exposed. We are obviously thinking of tourism, culture, aeronautics, small businesses, etc., which have been forced to drastically reduce or even completely stop their activity. Depending on the country, massive public aid may have been deployed to maintain structures while waiting for their activity to resume. But how can we measure the effectiveness of emergency measures and be sure that they target the right players? Our economies are interconnected, and protecting these sectors means protecting the economy as a whole from a longer-term crisis. How then can we effectively stimulate economic recovery by supporting the right sectors? How can we ensure that there are no “holes in the policy mix”? How long should targeted companies be supported? Is there a risk of creating “zombie” companies dependent on state aid? Can public finances sustain this burden?