The collapse in oil prices and the subsequent decline in oil production within the OPEC++ deal have severely affected the Russian budget revenues. The restrictions introduced in the framework of the fight against coronavirus stopped the service sector and almost all non-food trade. This combination (decrease in revenues and blocking trade) has led to a very unusual nature of current crisis: the simultaneous shock of both supply and demand. This has happened for the first time with no precedents throughout post-Soviet history. An unusual combination (a fall in both demand and supply), multiplied by insecurity at the beginning of the pandemic, gave rise to a flurry of apocalyptic forecasts.

The new government of Slovakia, headed by Prime Minister Igor Matovič, follows the energy policy of the previous government of Peter Pellegrini, which is aimed at increasing the role of the Slovak Republic as a transit country by increasing the level of interconnection of the Slovak gas transportation system (GTS) with regional gas European markets. Such a policy of Slovakia aims to make the most of its geopolitical position and is characterized by attempts to establish pragmatic relations with all key players at the European gas market, primarily with Russia, which remains the main supplier of natural gas to the countries of Central and Eastern Europe.

Our experts analyzed the “Stability Program of the Slovak Republic for 2020 to 2023” (Program stability Slovenskej republiky na roky 2020 až 2023), which is the key medium-term document in the economic sphere of Slovakia. The document was developed by the Ministry of Finance of the Slovak Republic, approved at the meeting of the government of Slovakia on May 18, 2020 and should be supported by the parliament. The program defines the budget, fiscal and monetary policy of the state in the economic crisis, which is developing in the Slovak Republic against the general background of the global economic recession and the pandemic of the COVID-19 virus. The document also takes into account the economic component of the 4-year action program of the government of Prime Minister Igor Matovič, which was published on April 20, 2020.

In 2020, there will be significant changes in the Polish energy sector, which, according to our experts, will have a long-term effect on Poland’s energy policy in the next 5-10 years. After the formation of the new Polish government of Mateusz Morawiecki, the basics of energy policy as well as plans to reform energy companies and develop new energy sectors were presented. As a part of implementation of the European policy of decarbonization of the economies of EU member states, Poland is trying to make the most of the financial resources of relevant EU funds, as well as to take measures to consolidate energy business under the control of the government.