recent quarterly GDP growth rates are already negative. The recent output contractions do not appear to be exceptions, but … Ukraine, even with relatively slow growth in domestic demand, foreign trade will not be in a position to support overall GDP …

-13) Keywords real convergence, inflation Countries covered European Union Topics Macroeconomic Analysis and Policy; International …

sector debt build-up. These adjustments (and their severity) entail clear medium-term costs in terms of GDP growth and … domestic sales prospects. The induced lower GDP growth outlook, in turn, raises concerns over debt sustainability and fosters …

Belarus, Russia and Ukraine as well as in China. For each country, it provides a forecast relating to GDP growth, inflation … output, construction, foreign trade and quarterly GDP figures confirm this development. The economic recovery in the 'old EU … instability. Finally, despite high GDP growth, structural distortions still characterize both Russia and Ukraine, whose economies …

The transition countries approach EU enlargement with GDP growth outperforming the 'old' EU. In 2003, Poland's economy … prolonged near-stagnation in the EU has had limited impacts on GDP growth in the transition (and even the accession) countries … combined effects of those impacts cannot yet be reliably quantified. Russia's and Ukraine's GDP growth is likely to slow down …