The present economic crisis bears all the familiar hallmarks of the financial, debt-related and structural aspects of current account crises. All these aspects have lasting level effects and recovery can be very protracted. Export-led growth was an important feature of the recovery period...

External determinants Two key factors currently affect the economic prospects of CESEE the crisis in the euro area and movements in the commodity prices. For Russia, Kazakhstan and Ukraine declining world market prices of energy carriers, steel and other basic commodities are vital. For most of...

Bulgaria negative economic sentiment prevails (by Rumen Dobrinsky) Croatia no upturn yet (by Hermine Vidovic) Czech Republic heading for a change (by Leon Podkaminer) Estonia consumers keep growth alive (by Sebastian Leitner) Hungary the well-known pre-election tunes are played again (by Sándor...

Supply-demand imbalanced drive food prices (by Zdenek Lukas; pp. 1-6) Keywords agricultural production, food supply and demand, food prices, inflation Countries covered EU, New EU Member States Topics Sectoral studies; Macroeconomic Analysis and Policy The gas and electricity sectors of the...

Bulgaria recovery is losing steam (by Anton Mihailov; pp. 1-3) Keywords economic forecasts, GDP growth, inflation Countries covered Bulgaria Topics Macroeconomic Analysis and Policy Czech Republic untimely austerity, uncertain exports (by Leon Podkaminer; pp. 4-6) Keywords economic forecasts,...

The report analyses recent economic developments and short- and medium-term prospects of the countries of Central and Eastern Europe, Southeast Europe including Turkey, as well as Kazakhstan, Russia, Ukraine and China. Separate chapters present an overview of developments in the European Union's...

After a long period of convergence, Central, East and Southeast Europe experienced a deep recession in 2009. The relatively moderate GDP decline (-3.6%) on average for the new EU member states (NMS) reflects Poland's weight in the group, the only EU country to have recorded positive GDP growth...

Fast economic growth - in excess of 5% per year - continues in most New EU Member States (NMS). Growth in Bulgaria and Romania (which joined the EU on 1 January 2007) was also accelerating throughout 2006. Everywhere, except Hungary, GDP growth has been driven predominantly by domestic demand....

The 1st of May 2007 marked the third anniversary of the accession of the new member states (NMS) to the European Union the economic balance of the first three years is a clear success for the whole EU. Over the period 2001-2003 GDP in the NMS had increased by 3.1% per year on average; over the...

Under favourable external conditions, the economies of the New EU Member States (NMS) fared even better in the first quarter of 2006 than in 2005. Investment accelerated sharply and industry is proving buoyant. Labour productivity has registered strong gains, unit labour costs declined. This is...