A picture taken on March 8, 2022 shows European Union's and Ukrainian flags fluttering outside the European Parliament in Strasbourg, eastern France. LEHTIKUVA / AFP

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Economic policy in Eastern Europe and the general political situation there deteriorated in the first quarter of 2022, according to the 1,603 economics experts from 132 countries who participated in the latest Economic Experts Survey (EES), which is conducted quarterly by the ifo Institute and the Swiss Economic Policy Institute.

The survey suggests that the economic situation in Eastern Europe deteriorated significantly, dropping 10 points compared with the previous quarter. Assessments of the political situation also fell by 9 points. “Russia’s attack on Ukraine has plunged the region into a deep economic and political crisis,” says ifo researcher Niklas Potrafke.

By contrast, assessments of economic policy improved above all in Northern Europe (plus 10 points) and in Southern Europe (plus 5 points). Assessments of Western Europe rose by 3 points. The political situation in Northern, Western, and Southern Europe (+8, +2, +7) also brightened.

In North America, the economic experts anticipate a slight improvement in economic policy (plus 4 points), while in Central and South America the situation is expected to deteriorate (minus 10 points in each case). Respondents perceive positive economic policy development in Southeast Asia (up 14), East Asia (up 10), and Central Asia (up 7). By contrast, sentiment among participants deteriorated in Oceania (down 2) and South Asia (down 10). In East Africa (plus 10), they assess the economic policy situation as noticeably better. By contrast, they are more negative in Central Africa (down 22), North Africa (down 13), and Southern Africa (down 3), as well as in West Africa (down 2).

The scores on economic policy are based on the mean of responses to two questions: How do you rate your country’s current economic policy? How well does your country’s current economic policy address the challenges of the future? The assessment of the political situation consists of the mean of responses to two other questions: How do you rate the performance of your country’s current government? How do you rate the stability of your country’s current political situation? The survey ran from February 16 to March 2, 2022.

The detailed results can be found here: https://www.ifo.de/en/node/68657

Source: ifo Institute

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