Macro: COVID-19 CEE Compendium Q1 2021
The past year 2020 was also a year of major caesura in Central and Eastern Europe. The vast majority of countries in CEE achieved an above-average economic business cycle over several years with real growth rates of 3 to over 5% p.a. until COVID-19 also hit this region hard in the first quarter of 2020. Similar to Western European countries, the pandemic hurt the CEE region in two waves. Unlike in the 2008/09 financial crisis, this time countries were not able to compensate for the international supply and demand shortfall through domestic measures. Countries with a high dependence on the automotive sector and service sectors were hit the hardest. The Czech Republic, Slovakia and Hungary suffered similar setbacks as the euro area as a whole, with GDP declines of more than 6-7%. Croatia, however, fell in the doldrums with significant loss of its important tourism sector. The countries of South-Eastern Europe and Russia fared somewhat better. Read more in our CEE Compendium.
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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