In 1997, the five more advanced CEECs – the Czech Republic, Hungary, Poland, Slovakia, Slovenia – performed, on average, as well as in 1996. Hungary overcame the effects of its 1995 stabilization policy, recording quite high export-driven growth. The Czech Republic, until recently a paragon...

All CEECs, with the exception of Hungary and Croatia, performed well in 1995. GDP rose by 5.5 percent on average. Private consumption and gross investment were essential in inducing growth. Inflation was falling, although remaining still high according to Western standards in most countries,...

The Central and East European economies closed the year well behind 1995, with an average GDP growth of 3.5 percent. High investment helped to maintain high GDP growth in Poland and Slovakia. The banking crisis in Bulgaria resulted in strong GDP decline and very high inflation. Russia and...

A few reflections on fiscal and monetary policy in the euro area (by J. Pöschl; pp. 1-3) Keywords fiscal policy, monetary policy, euro area Countries covered EU Topics Macroeconomic Analysis and Policy; International Trade, Competitiveness and FDI Unit labour costs, exchange rates and responses...

Table Overview 2013 and outlook 2014-2016 (p. 1) Figure 2013 estimate and 2014 forecast for CESEE growth drivers (p. 2) Bulgaria upcoming early elections take centre stage (by Rumen Dobrinsky; p. 3) Croatia recession continues (by Hermine Vidovic; p. 4) Czech Republic fiscal relaxation to...

Iraq crisis, oil price and economies in transition (by Vasily Astrov) Countries covered Iraq Iraq and the Balkans (by Vladimir Gligorov) Countries covered Iraq, Balkan States Structural change and productivity growth in Central and Eastern Europe (by Peter Havlik) Countries covered CEE Poland's...

Growth in the CESEE region will follow the unimpressive pattern displayed by the euro area. The longer-term convergence of income levels in the CESEE countries can no longer be expected to be as rapid as was assumed a decade or so ago. Growth in the period 2015-2017 is not going to deviate...