The final paper aims to examine the impact of economic and other crises (health) on the economy of countries, with particular attention to the recent pandemic caused by the COVID-19 virus. At the same time, the research focuses on the economic consequences for the Republic of Croatia and the EU27, as well as the determinants of economic policy in times of crisis (e.g. NPOO). It attempts to answer the question: "To what extent has the Republic of Croatia's membership in the EU contributed to economic stability, resilience and strengthening competitiveness?", taking into account the economic policies, including the NPOO, that have been developed and applied to address the economic challenges of the crisis. And all this in the context of specific measures to support the economy, fiscal policy, monetary policy and employment and social protection policy. The global COVID-19 pandemic, which began at the end of 2019, has caused one of the biggest crises of modern times, with significant consequences for the world, especially for the European Union and Croatia. The pandemic has led to severe economic consequences, including a decline in gross domestic product (GDP), an increase in unemployment and significant budget deficits in the EU. Sectors such as tourism and small and medium-sized enterprises have suffered drastic losses, while healthcare systems have shown their weaknesses, underlining the need for better policy coordination at EU level. This thesis examines the economic consequences of COVID19 for the European Union and Croatia and analyzes the impact on the economies, labor markets and social aspects. It also looks at recovery strategies and future policy measures that could help mitigate the effects of the pandemic and prepare for future crises.