Macro: COVID-19 and Economic Update CEE: Second wave hits Central Europe

This slide deck gives you an updated overview of restrictions and economic, fiscal and monetary measures in Central, South Eastern and Eastern Europe (CEE). The data is collected by Raiffeisen RESEARCH analysts based in CEE countries and in Austria and is biweekly updated.
POLAND
- New record of daily cases reached lately. No discussion on new restrictions currently.
HUNGARY
- The number of daily cases rose to a new record.
- From January 1, 2021, the credit moratorium will be extended for another six months.
CZECHIA
- New daily cases accelerated recently and surpassed numbers from March. Testing has picked up pace, thus, more Covid-19 cases are uncovered. In relative terms, however, the number of positive tests relative to total number of tests has increased markedly to 9.4% from around 4% in late August.
- Starting from Sep 18, outdoor and indoor events are prohibited if they count 1000+ and 500+ people, respectively.
SLOVAKIA
- New record highs of daily cases recorded in last days, but number of new cases still follows a linear trend.
- Restrictions are strictly local and bases on traffic light: 10 districts are in red zone.
ALBANIA
- Still high number of new daily cases accompanied by increase in tests made.
- Limited fiscal capacity and elections ahead next year make it unlikely that another lockdown will be implemented.
BULGARIA
- Stable situation but with less tests done compared to previous months.
- No further restrictions or measures planned.
ROMANIA
- State of alert was extended for the 4th time, until October 15.
- Number of new daily COVID-19 cases increased only a bit recently, but its level was already high.
BOSNIA AND HERZEGOVINA

- COVID-19 numbers stable but at high level of 268 in Sept. Local breakouts in the south, capital Sarajevo has been stabilized.
- New wave of fiscal support considered, targeted to the most affected industries. Regulators reached decision in Sept to extend Wave 2 moratorium for additional 6M and grace period up to 1Y in B&H banking sector.
CROATIA
- The development and management of the COVID-19 pandemic is under control and, at least for now, we do not see a risk of escalation.
- The trend of relatively high numbers of new cases has started to decelerate.
RUSSIA
- Daily cases on the rise again having reached the levels seen in mid-July (>6,200). No new restrictions are planned so far.
UKRAINE
- Threat of tougher restrictions is increasing as a result of rising new infections. Ukraine already imposed a temporary ban on most foreigners entering the country until 28 Sept and extended lockdown measures until the end of Oct to contain recent spike in coronavirus cases.

This Research was produced and first published by Raiffeisen Bank International AG which is supervised by the Austrian Financial Market Authority and the National Bank of Austria.