No one knows if there will be a summer tourism season at all in 2020, which is bad news for the countries that generate around a quarter of their GDP from the sector.
The growth in the number of confirmed COVID-19 cases has accelerated recently in Croatia, Romania and Serbia.
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.
Cases have doubled in less than three days in several countries in the region, as governments desperately fight back with lockdowns.
Earthquakes strike close to Zagreb as number of new coronavirus cases is starting to accelerate. Authorities urge Croatians forced out of their homes to avoid gathering to prevent spread of the virus.
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.
Vienna-based think tank expects the coronavirus pandemic to result in the worst year for the region since the global financial crisis.
The CROBEX dropped by over 10% shortly after trading opened, with the biggest fall in value reported by Arena Hospitality Group as the coronavirus crisis hits Croatia's large tourism sector.
As mass emigration results in a labour market squeeze, local authorities are offering homes to young families who commit to live in the area for at least 15 years.
The fall in the CROBEX came on a day of chaos on the international exchanges amid a slump in oil prices and the economic disruption caused by efforts to contain the coronavirus.
More than 100 years since International Women’s Day was declared a national holiday in post-revolutionary Russia, a new survey from the UNDP reveals gender bias is still widespread across the region.
Croatia’s quarterly GDP increased by 2.5% year-on-year in the final quarter of 2019, according to a first release from the Croatian Bureau of Statistics (DZS). For the full year, GDP in real terms increased by 2.9% in 2019.
Sofia reinforced its borders after reports that hundreds of migrants were heading to Turkey's borders with Greece and Bulgaria.
Smattering of confirmed cases seen as a precursor to a wider outbreak anticipated in the region in the coming weeks.