The probable impact of the coronavirus pandemic on Central, East and Southeast Europe

The Vienna Institute for International Economic Studies (wiiw) released its economic forecast for Central, East and Southeast Europe (CESEE) amid the outbreak of the coronavirus. The prognosis is unpromising, urging the countries to prepare for the worst year since the global financial crisis.
The rest of Europe is likely to follow the Italian example of the coronavirus spread. The growing pressure on the national health systems and lockdown restrictions similar to those of China or Italy will drive a lot of countries and firms into financial difficulties, while the recession of the first half of 2020 could be among the deepest of all time.