PM Viktor Orban is expected to announce a broader economic stimulus early this week that could amount to as much as HUF10 trillion.
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.
Hungarian MPs approved legislation to allow the government to extend the state of emergency without a time limit and grant power to the government to rule by decree as long as the state of emergency is in place.
Oxford University researchers look at the steps taken to contain the spread of COVID-19.
Opposition parties objected to the lack of a sunset clause and raised fears that the government would undermine freedom of speech and press freedom under the guise of actions against the COVID-19 pandemic.
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.
Hungarians are only allowed to leave their homes to go to work or to run essential errands, PM Viktor Orban announces, as virus reaches the community transmission stage.
The auction, which took place amid extraordinary safety measures, allocated concessions that will run until 2035 and can be expanded by another five years with unchanged conditions.
The Hungarian National Bank projects a growth slowdown, but still expects Hungary to perform better than eurozone countries. Most analysts take a gloomier view and forecast a recession.
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.
Economy to be dragged down by to the almost complete shutdown in the service sector and suspension of production in the vehicle industry, says a forecast by GKI.
Grounding the entire fleet remains a distinct possibility, but CEE's biggest low cost carrier says it is confident it can survive even a prolonged grounding.
Restricting social interaction is a vital part of the efforts to delay the spread of the coronavirus pandemic, but in some countries people fear politicians will use the opportunity for their own ends.
Despite a recent hike in coronavirus cases, the bill is not supported by opposition parties that voiced concern about granting the cabinet special powers for an indefinite length of time.
Convergence to be reversed as the economic crisis resulting from the coronavirus pandemic is set to be deeper and longer in the CIS, Ukraine, Turkey and the Western Balkans than in the EU member states of Central and Southeast Europe.
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.