Economic Aspects of the Relationship between Government Expenditure, Employment, COVID-19 and GDP Growth in the European Union

Economic competitiveness and population well-being in the European Union emphasizes the identification of economic strategies aimed at facilitating sustainable and equitable growth.Gross Domestic Product (GDP) per capita, employment rate, labor productivity, and the level of technological innovation are key factors in determining an economy's ability to compete effectively in the international market and generate long-term prosperity.Developed infrastructure and a high level of education are important factors influencing economic competitiveness.Additionally, investments in research and development, macroeconomic stability, and transition policies contribute to the transformation of society.Using an econometric model, we analyzed the economic factors that influence GDP growth, during the period 2013-2023, noticing major fluctuations during the period 2020-2021 with a negative effect on GDP.One of the European Union's goals is to ensure and guarantee long term prosperity, which is why it emphasizes innovation, ecological transition, and the digitalization of the economy.The proposed strategies support the sustainable growth of both competitiveness and well-being.