Economic and social impacts of the war in Ukraine in Central and Eastern Europe

Picture: Shutterstpck/VectorMine

The war in Ukraine is first and foremost a human tragedy. With an enormous number of refugees from the war zone arriving in neighbouring countries, a large-scale energy shock and disruption of trade it also has considerable economic and social repercussions with a particularly strong impact on countries in Central and Eastern Europe.

In the first webinar of our new series on Ukraine Richard Grieveson, deputy director at the Vienna Institute for International Economic Studies (wiiw), presented key findings of recent wiiw analysis on the repercussions of the war. He focused on the humanitarian impact, economic key figures such as GDP and inflation, trade, labour market developments and possible medium-term structural changes for countries in Central and Eastern Europe.

Following the presentation, we discussed scenarios for growth and inflation and the main questions arising for trade as well as the integration of refugees in Europe with Piotr Arak (Polish Economic Institute), Milan Nič (German Council on Foreign Relations), Nicolas Ruiz (OECD) and Barbara Zollmann (German-Hungarian Chamber of Industry and Commerce). The discussion was moderated by Nicola Brandt (OECD).

Presentation Recording:


Further Readings:

Russia’s Invasion of Ukraine: Assessment of the Humanitarian, Economic and Financial Impact in the Short and Medium Term. wiiw Policy Notes and Reports 59 (April 2022)

EU could become independent from Russian commodities already in 2022. Report by the Polish Economic Institute (7 April 2022)

Polish embargo on hydrocarbons could cost Russia as much as over a dozen billion dollars per year. Analysis by the Polish Economic Institute (31 March 2022)

Zusammen mit Russland, das geht nicht mehr. DGAP online commentary by Dr. Claudia Major and Dr. Christian Mölling (25 March 2022)

Poland’s Refugee Crisis in Waiting. DGAP online commentary by Sławomir Sierakowski (23 March 2022)

What might help for Ukraine after the war look like? Analysis by the Polish Economic Institute (14 March 2022)

Russia’s invasion of Ukraine and its impacts on Eastern Europe. Eastern Partnership Bulletin No. 19 by CEPS (21 March 2022)

Economic and Social Impacts and Policy Implications of the War in Ukraine. OECD report (17 March 2022)

How the war in Ukraine affects tourism in Eastern Europe. Deutsche Welle article by Marco Müller (10 March 2022)

Union-wide simulation of gas supply and infrastructure disruption scenarios. ENTSOG Union-wide SoS simulation report (November 2021)

Dossier: Russia’s war against Ukraine. Collection of recent DGAP analysis on the war in Ukraine

► Webinar in the Media

Krieg zieht weite Kreise in Region. News report by Wiener Zeitung (7 April 2022)