Countries Overview
Albania
The economy expanded by 3.4% in 2023, driven by increased domestic and external demand. Public finances remain robust, and efforts toward fiscal consolidation ...
Belarus
In 2023, the economy almost totally recouped the losses incurred the previous year as a result of the Western sanctions. GDP grew by 3.9%, underpinned by a ...
Bosnia and Herzegovina
GDP growth in 2023 is estimated to have been 1.7% and to have been largely driven by a rise in consumer spending, spurred by falling inflation and higher real ...
Bulgaria
Bulgarians are being summoned to the polls again in June, in the fifth snap election since 2021. Growth slowed in 2023 and weak performance has continued in the...
Croatia
Croatia’s accession to the euro area and the EU’s border-free Schengen zone boosted tourism in 2023, with EU-related funds supporting investment activity. ...
Czechia
Following a minor contraction in 2023, the Czech economy will see a mild recovery this year. As inflation falls sharply and real wages rise, consumption will be...
Estonia
The past year presented significant challenges for the Estonian economy. A constellation of factors, including the disproportionately severe impact of the war ...
Hungary
Runaway inflation was curbed by the end of 2023. The current account closed with a surplus, largely because of a decline in imports due to shrinking ...
Kazakhstan
Kazakhstan’s economy ended 2023 among CESEE’s top-performing economies, with strong private consumption and investment driving economic growth. Despite ...
Kosovo
The risks related to external tensions tend toward the upside. Despite the challenges posed by certain external events, the economy has demonstrated remarkable ...
Latvia
While 2023 ended with GDP declining slightly (0.3%), this year will see an upswing of 1.6%. We expect external demand to shrink further, but by less than last ...
Lithuania
The economy performed worse than expected in 2023, with GDP declining by 0.3%. With the substantial fall in inflation, real incomes had already started to pick ...
Moldova
Economic growth will pick up to 3.5% in 2024, following a very modest showing of 0.7% last year. Inflation will stabilise at a low level, allowing for monetary ...
Montenegro
Amidst political turmoil, Montenegro managed in 2023 to achieve considerable growth of 6%. This owed much to a record tourist season, the influx of Russian and ...
North Macedonia
The measures adopted by the government ahead of the elections in April and May are breathing life into the economy, with all the indicators now pointing in a ...
Poland
A shallow recession in the first half of 2023 was followed by a moderate recovery in the second, allowing GDP to grow by 0.2% in 2023 as a whole. Inflation and ...
Romania
While high fiscal and current account deficits are lasting features of the Romanian economy, they do not pose any imminent danger. Fiscal austerity will not be ...
Russia
Last year, GDP expanded by 3.6%, thanks largely to the boom in military production, which has had positive effects – both direct and indirect – for most of ...
Serbia
The decline in inflation is boosting real incomes and consumption, while the industrial sector appears to be coming back to life, after two challenging years. ...
Slovakia
While Slovakia’s GDP increased by only 1.1% in 2023, wiiw forecasts a gradual improvement in growth in the coming years. This will mainly be driven by ...
Slovenia
This year will bring higher growth than 2023. Real GDP is expected to grow by 2.5%, thanks to private spending and investment in infrastructure. Exports and ...
Turkey
In 2023, Turkey’s economy grew by 4.5%, driven by strong domestic demand, but constrained by declining exports. The current account deficit improved modestly ...
Ukraine
GDP growth exceeded 5% in 2023, thanks to the resilience of the economy under war conditions and ample financial and military aid from the West. The ...