The Vienna Institute for International Economic Studies expects the region’s average GDP to decline by 6.1% in 2020, compared to 5.6% in 2009, making this the worst year for Eastern Europe since the early 1990s. The Institute’s expectation for initial recovery of the region will then be much weaker: 2.8 % in 2021, compared with 4.4 per cent in 2010.
Is this scenario inevitable? Will all business segments be equally hit? Most importantly: Are there strategies for businesses to beat the crisis, and to prove this picture wrong?