Analysis
Economy & Tech
Saudi Arabia’s Oil Production Surge: Impacts on Russia and European Energy Security
6 December 2024
The Visegrad Group is one of the worst-hit places in terms of COVID-19 casualties. But the V4 industries demonstrated a degree of resilience in the wake of the pandemic. This offers hope that in 2021 the region should regain its economic shine if the virus allows it.
Until September 2020 many people thought that the EU’s Central and Eastern European nations might have had some sort of immunity against COVID-19 – either through luck, less intensive social contacts or – as one hypothesis suggested – thanks to past tuberculosis vaccinations. The fatality rates from COVID-19 were very low in Poland, Czechia, Slovakia and Hungary.
The autumn, however, changed everything. The pandemic hit CEE societies with severity. Poland topped the EU ranking in terms of excess deaths, which is the most reliable measure of a death toll caused by the virus. Czechia, Hungary and Romania fared only slightly better.
Yet, not everything was doom and gloom over the last months of 2020. While societies suffered, economies were recovering – at least in some important sectors. Consumer sentiment plummeted, but famous Purchasing Managers’ Index (PMI) indicators of industrial sentiment surprisingly rose.
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