Years of consumption-fuelled growth have left Central European states with large retail sectors that are now facing a coronavirus-related slump. It’s set to get even worse once the initial urge to stockpile wears off.
All CEE countries should experience negative growth in 2020, with 2Q20 constituting the bottom.
From enabling their employees to work from home to offering new e-commerce services, companies in Central and Southeast Europe are moving their operations online in response to the coronavirus pandemic and associated lockdowns.
For the banking sectors in CEE, hypothetical stress scenarios are becoming reality. A forum like the Vienna Initiative could be an ideal place to find coherent solutions during the current crisis.
After a vintage 2019, almost €2bn worth of deals were expected to close in the hotel sectors of six Central and Southeast European countries this year, but these are looking increasingly unlikely to complete, says a report from law firm CMS.
The Institute of International Finance (IIF) released updated forecasts for economic growth this year for the Central and Eastern Europe (CEE) countries that show a sharp slowdown in 2020 and all except Turkey will return negative results.
Equity and bond markets have been rocked by record volumes of outflows since the end of February in one of the biggest sell offs ever, but the pace of selling seems to be slowing in the last few days, said the Institute of International Finance (IIF)
Economic consultancy Capital Economics has slashed its growth forecast for the Central and Eastern Europe (CEE) to a 2% y/y contractions from the previous 2.3% expansion in 2020, as a result of the coronavirus.
There is a new acronym in the economists' lexicon: VUCA. It is short for “Volatile, Uncertain, Complex and Ambiguous” as pundits are struggling to explain a crisis that is coming at us from all sides simultaneously.
Vienna-based think tank expects the coronavirus pandemic to result in the worst year for the region since the global financial crisis.