Purpose: The aim of the article is to show the direction and size of public aid intended to relieve the effects of the pandemic in Poland. Design/Methodology/Approach: Based on the macroeconomic indicators, the authors present economic effects of the pandemic in order to justify the purposefulness of the granted public aid, and describe its direction and scope at EU level and in relation to Poland. The final part of the study comprises an analysis of the potential outcome of public aid and recommendations regarding future activity. Findings: The article shows the role and importance of public aid in relieving the effects of economic crises. The authors point out the impact of public aid on the behaviour of enterprises and private households, as well as on the overall condition of public finances. Practical Implications: Public aid in Poland has been directed both to businesses and to households in order to counteract the negative effects of the pandemic. The authors show that despite the undertaken steps, during the period under study the rate of cuts both for enterprises and private households was growing, while for companies the rate of investment was decreasing. In addition, the state revenue generated from taxation decreased, whereas budget expenditure went up. These dependencies constitute an important implication for decision-makers in relation to the size and form of public aid, both already granted and planned in the future. Originality/value: The economic crisis caused by the current pandemic is unprecedented in terms of its reasons as well as the pace and effects of its spreading. This study fills a gap in the subject literature by showing the mechanism of the crisis, the value and scope of public aid employed to relieve its effects, and also the impact of the undertaken initiatives on the behaviour of businesses and households.

Purpose:This paper sets out to analyze the impact of the pandemic on selected sectors of the economy and specific companies within the industries most affected by the pandemic-related crisis. Approach/Methodology/Design: The study covers selected parameters of financial performance (operating revenues, operating profit/loss, gross profit, total cash flow, cash flow from operating activities, cash flow from investing activities, net cash flow ) on a sample of 115 companies listed on the Warsaw Stock Exchange (WSE) for the period of the first half of 2019 and the first half of 2020. Findings: The results confirm that the exogenous demand and supply side shock has had a varied impact on sectors of the economy and different companies within the same industries. Large enterprises cope better with the effects of the pandemic. Practical Implications: This research and its results may be helpful for managers in crisis management in enterprises and for the government in adjusting the scope and forms of support for enterprises affected by the pandemic. Originality/Value: This study fills a gap in the literature by analyzing the impact of the economic crisis on the financial results of individual industries and enterprises in Poland. The research pointed out that the impact of the pandemic on the financial situation of enterprises within one industry isn't uniform and one-way (some companies improve their financial performance and others post a significant deterioration in their financial standing) and the large enterprises cope better with the effects of the demand and supply side shock.

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