Rating agency expects a significant negative impact from the pandemic on Poland's real GDP growth in 2020, followed by a V-shaped recovery in 2021.
The package, dubbed an “anti-crisis shield” by the ruling Law and Justice party, is aimed at helping an economy about to enter its biggest crisis since the 1980s.
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.
Polish residents in home quarantine must take a selfie within 20 minutes of receiving an alert or face a visit from the police.
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.
Sunday marked the end of the first full week of partial lockdown imposed by the government in an effort to keep the epidemic at levels manageable by the country’s underfunded and understaffed health care system.
February marked a gain of 3.9pp in retail turnover growth in comparison to the y/y expansion recorded in January. That will be the last positive reading from the retail sector as March figures will tank as an effect of the coronavirus lockdown.
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.
The government is reacting to the expected overwhelming impact that the outbreak is nearly certain to have on Poland’s economy in the months to come. Most analysts predict the country’s GDP growth to ease to no more than 2% in 2020 from 4% last year.
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.
Michel Wos testing positive and the need to test others led to delaying the March 17 meeting of the government at which details of an aid and stimulus package for the pathogen-stricken economy were to be discussed.
Vienna-based think tank expects the coronavirus pandemic to result in the worst year for the region since the global financial crisis.
The CPI will now begin its descent, as the radically altered macroeconomic environment in the aftermath of the coronavirus pandemic takes hold.
The EBRD has unveiled an emergency €1bn “Solidarity Package” to help companies deal with the impact of the coronavirus pandemic.
Closing down schools and other public spaces is a preventative measure so that Poland avoids a situation similar to the one currently unfolding in Italy, Prime Minister Mateusz Morawiecki told a press conference.
The government has introduced a number of preventive measures including sanitary checks at its borders to help contain the spread of the highly contagious virus, its impact now widely expected to hit the Polish economy hard.