The COVID-19 pandemic has had an extremely negative impact on lives and livelihoods, affecting the poor and the vulnerable significantly more than those living in prosperity. The public health crisis caused by the COVID-19 pandemic has generated an economic crisis, resulting in the sharp increase in unemployment within several months as well as negative effects on all other aspects of life. By the end of 2020, more than 82 million people were infected with the COVID-19 virus and more than 1.8 million people died worldwide. Preliminary estimates suggest that the total number of global “excess deaths” in 2020, which cna directly and indirectly be linked to COVID-19 amount to at least 3 million, The diversity of responses generated by institutions, such as governments, educational institutions and businesses, have contributed to the uneven spread of the virus and its consequences depending on the geographic origin, race, ethnicity, gender, and social class. The epidemiological measures taken in order to restrain and prevent the spread of the infection have a negative effect on economic trends with unforeseeable macroeconomic consequences. In the meantime, vaccines have been developed and the process of vaccination has begun. However, the end of the pandemic is not yet in sight due to the emergence of new strains and new outbreaks. The global health crisis has also affected the Republic of Croatia and its economy. Croatia has introduced rigid protective measures in order to prevent the spread of the infection, but it has also been particularly economically affected.