and institutional adaptations, as well as ongoing gains in labour productivity remain important for maintaining export …

Belarus, Russia and Ukraine as well as in China. For each country, it provides a forecast relating to GDP growth, inflation …

) - continues to shed labour. This implies impressive gains in labour productivity and, given the general wage restraint, in unit … to EU accession and rising energy prices), inflation resumed its downward trend, reaching low single digits in most NMS … (except Slovakia) and in the remaining transition countries as well (except Romania, Serbia and Ukraine). Russian inflation …

; quite an abrupt deterioration in industrial labour productivity; and real currency appreciation and a resulting strong rise …

(except in Hungary). Inflation slowed down to very low levels and is no longer a serious problem. Hungary and Slovakia will … Serbia, which has seen accelerating inflation, and Romania, where disinflation has been interrupted. The downside to that is …

quarter of 2006 than in 2005. Investment accelerated sharply and industry is proving buoyant. Labour productivity has …. Macroeconomic stability will be maintained, though inflation is picking up; and is a serious problem in Serbia and Romania …. Inflation is a major concern in Turkey, as is macroeconomic stability more fundamentally. At the end of 2006 it should be …

nowadays much sounder than in the past (Hungary being temporarily an exception). The rates of inflation are quite low and … productivity and downward pressure on wages from excess supply of labour. The expectation of sustained growth is supporting growth … growing external borrowing, possibly associated with the growing presence of foreign banks. Inflation apart, the country …

stability indicators – inflation, current account status and fiscal balance – reveal a more differentiated and less favourable … Slovakia does very high growth seem to be sustainable at least over the next two years. Inflation will remain relatively low …