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A PRELIMINARY ASSESSMENT OF THE COVID-19 PANDEMIC ECONOMIC IMPACT ON CENTRAL AND EASTERN EUROPEAN COUNTRIES

Iulia Monica Oehler-Șincai

Euroinfo, 2020, vol. 4, issue 2, 18-33

Abstract: The main objective of this paper is the comparative analysis of the economic impact of the Covid-19 pandemic on a group of eleven countries in Central and Eastern Europe, members of the European Union. The second significant objective is an evaluation of their economic recovery, in terms of specific anti-crisis measures. Starting from the investigation of the main macroeconomic indicators of these countries, based on the data of the European Commission, the present research highlights that all the states in the region have been strongly affected, even those previously included in the category of „resilient” to external shocks. Interruption of activities in most economic sectors considered non-essential, increasing uncertainty and declining confidence (both at the level of consumers and investors), associated with the sharp decrease in demand and productive investment are just a few factors leading to the recession of the analyzed economies. During 2020, one can remark an increase in budget deficits, public debt and unemployment. The current crisis has highlighted once again the need for reform in some countries in the region, especially in Romania.

Keywords: Covid-19; Central and Eastern Europe; Romania; economic impact; macroeconomic indicators; anti-crisis measures (search for similar items in EconPapers)
JEL-codes: E21 E22 E23 E24 E29 E32 E51 E61 H12 H50 H60 (search for similar items in EconPapers)
Date: 2020
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