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(3) The COVID-19 outbreak in early 2020 changed the economic and social outlook for the years to come in the Union and in the world. In the Union, new priorities have emerged, linked with the crisis, specifically focussing on recovery and resilience. Those priorities require an urgent and coordinated response from the Union in order to cope with the economic, social and health-related consequences for Member States as well as to mitigate the social and economic fallout. In particular, women have been hit especially hard by the economic consequences of the COVID-19 crisis. The COVID-19 crisis, as well as the previous economic and financial crisis, has shown that developing sound and resilient economies and financial systems built on strong and sustainable economic and social structures helps Member States to respond more efficiently to shocks and to recover more swiftly from them. The need for preparedness of health systems, essential public services and effective social protection mechanisms was also clearly demonstrated. Growth-enhancing, sustainable, smart and socially responsible reforms and investments, sound fiscal policies and the creation of high-quality jobs to respond to the new challenges, address structural economic weaknesses and strengthen economic resilience will therefore be essential to setting the economy and society back on a sustainable recovery path and to overcoming the economic, social and territorial divergences in the Union. This should be done in the interest of the well-being of Union citizens and in accordance with relevant fundamental rights principles.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-06 · Text as adopted (Official Journal); later amendments are not incorporated in this text.