Since shocks cannot be avoided and are likely to occur more frequently in the future, it is crucial to strengthen economic resilience – “the ability of a country to withstand a shock and recover quickly to its potential [growth] after it falls into recession” – on national and regional levels.
The most often raised issue with SMEs in Hungary is that they are lagging behind larger firms and their western rivals in terms of productivity, which is the added value produced by a worker in a given timeframe. The low productivity, in turn, holds the entire Hungarian economy back.
The reviewed data on the share of renewable energy in the total energy consumption mean that Slovakia has reached the 2020 EU target and is even close to reaching the target for 2030. Despite this, some of the renewable energies raise concerns over environmental and health issues.
States implemented unprecedented measures restricting private life in response to the coronavirus pandemic, severely damaging entire economic sectors. In turn, governments introduced novel, high volume social and sectoral aid programs to mitigate the long-term negative effects of the crisis. The size and specifics of economic stimulus packages vary from country to country. Hungary also tried to carve its own path amidst this unprecedented crisis.