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2020/07/30 / Erste Group Research

CEE Special | Looking at bright side of pandemic

The pandemic outbreak brought changes, reinforcing the move toward digital collaboration in work and interactions with public administration. This may facilitate digitalization in many sectors, including the public one. The available EU funds put a greater focus in that direction. However, additional EUR 70bn in grants for CEE region (5% of regional 2019 GDP within the EU Recovery Fund) can and should be used for necessary reforms in other areas as well (competitiveness, productivity, employment).

The climate also seems to be a winner of the COVID-19 crisis. During the height of the lockdown, in early April, daily CO2 output fell 17% globally. Climate oriented solutions should remain in focus.

Economic lockdown and production breaks opened a discussion on global value chains and supply chains. Should any adjustments take place in the manufacturing sector toward more diversity of supply chains, the CEE region would be an obvious candidate for 'nearshoring'. The pandemic has become a challenge for the labor market as well. Within a very short period of time, the private sector needed to adjust by switching to a large-scale home-office, given the lockdown.

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General information

AuthorErste Group Research
Product nameCEE Economies Special Report
Topic in focusFX, Macro/ Fixed income
Economy in focusCEE, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia
Currency in focusCroatian Kuna, Czech Koruna, Euro, Hungarian Forint, Polish Zloty, Romanian Leu, Serbian dinar
Sector in focus-


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