In this analysis of HCIC’s Institute for Economic and Enterprise Research (IEER) based on EC and IMF data, we present, how the novel coronavirus pandemic is expected to affect the economic situation of the EU member countries. As part of public health considerations, major containment and lockdown measures were introduced all across EU countries. This has put the EU economy to a halt – although the rate of the slowing down differs among member states – a -7,4% growth rate is forecasted for the region. Although this is followed by a return at least of circa 5% in 2021, the GDP will not reach its pre-pandemic forecasted levels. According to predictions, Hungary will have a milder slump in, with a -3,1% of real GDP change.