other countries) indicates that the ‘rebalancing’ of 2009 may have been a temporary phenomenon. Household consumption and … Kazakhstan, Russia and Ukraine. In 2012, consumption growth will sag still more in most new EU member states and across the … Balkans. Even in the Baltic countries, consumption growth is expected to slow down. Threats and opportunities At present, the …

consumption in most CESEE countries, with the exception of Russia, Ukraine, Kazakhstan and the Baltic states. In turn, investment …

-member countries in Southeast Europe also follow to a large extent, depends on the revival of external demand. Household consumption … will grow only slowly, if at all, and public consumption is set to decline further. Private investment will have a hard … dampens consumption expenditures, and leads to cutbacks in employment (and wages), which, in turn, lower household incomes and …

also Turkey, rely on a continued positive contribution of household consumption, and Kazakhstan on receipts from sales of …, the contribution of public consumption and investments tends to be rather limited throughout the whole of Europe. Monetary …