Impact of National Gross Public Debt on COVID-19 Fatality Rates: A Study of European Countries

This study investigates the correlation between high national debt, healthcare spending, and COVID-19 mortality rates across European countries. The hypothesis is that excessive public debt undermines healthcare and socioeconomic systems, increasing vulnerability to crises like the pandemic. Findings support this theory. Countries with lower COVID-19 death rates exhibited lower debt levels and higher per capita healthcare spending compared to those with higher mortality rates. Despite increased debt burdens, countries with higher fatality rates struggled to boost healthcare expenditures, potentially due to austerity measures imposed by the European Union. The Methods section indicates that this study analyzed data from 27 EU member states, examining healthcare and economic indicators from 2009 and 2019 to evaluate their influence on COVID-19 mortality rates. Using descriptive statistics, a t-test, and a two-stage least squares (2SLS) regression model, the study compared pre-pandemic trends in healthcare spending and public debt, aiming to assess the impact of high government debt on healthcare systems' crisis response capacity. The research demonstrates a strong association between increased health spending and reduced COVID-19 mortality rates, even when accounting for debt levels. These results highlight the detrimental impact of high public debt on healthcare systems and their ability to respond effectively to public health emergencies. The study underscores the need to address public debt to build more resilient healthcare infrastructures.