Countries Overview

Albania

The EU Member States granted Albania the status of an official membership candidate on 24 June 2014. Due to the new government’s austerity policy we expect ...

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Bosnia and Herzegovina

This year will see no growth due in part to catastrophic floods in late spring. Those have affected industrial production and exports. In the medium term, ...

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Bulgaria

The economic outlook for Bulgaria has deteriorated recently. Uncertainties related to possible changes in the policy course will act as a deterrent to growth, ...

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Croatia

GDP is assumed to decline for the sixth consecutive year in 2014. Public investments are not sufficient to boost economic recovery and private sector ...

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Czech Republic

The relaxed monetary policy combined with exchange rate interventions suppressing the value of the national currency seems to have helped foreign trade ...

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Estonia

The economy is hit by stagnant external demand due to the slowdown of growth in Russia and the ongoing recessionary developments in neighbouring Finland. The ...

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Hungary

GDP, investment and industrial output data for the first quarter 2014 show a strong upturn. Data reflect the strong increase in EU cohesion policy related to ...

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Kazakhstan

According to the preliminary statistical report, Kazakhstan managed to achieve 6% real GDP growth in 2013, which makes it the fastest growing economy in the ...

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Kosovo

Our outlook for the Kosovo economy has remained stable. The current growth path seems to centre on some 4% of real GDP growth per annum. Only for the year 2014 ...

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Latvia

In the first year of Latvia’s accession to the euro area we expect a slowdown of economic growth to 2.7%, caused by stagnant external demand in Russia and ...

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Lithuania

Lithuania will enter the euro area in January 2015, fulfilling all Maastricht criteria by a wide margin. For 2014 we expect GDP growth to amount to 2.7% and to ...

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Macedonia

Growth should stabilise at around 3% this year and in the medium term. It will be driven by domestic consumption and continued public investments. Acceleration ...

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Montenegro

There should be some moderate growth this year and some modest acceleration in the medium run. It will depend on a continued positive contribution of the ...

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Poland

Fiscal consolidation no longer seems to be the major threat to renewed growth acceleration. But the monetary policy’s fairly restrictive stance in face of the...

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Romania

The economy has achieved European champion rates of annual economic growth. While this gives ground for an upward revision of the 2014 forecast, one should stay...

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Russia

The conflict over Ukraine and the subsequent imposition of – so far limited – EU and US sanctions are already showing first effects: a deteriorating ...

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Serbia

This year growth will be negative due to the continuous decrease of consumption and slow if any recovery of investments. Exports will continue to contribute to ...

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Slovakia

For the first time since 2008, households have shown a visible sign of recovery in the first quarter of 2014 (+3.4%). Thus already this year, growth will be ...

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Slovenia

Moderate GDP growth (0.5%) in 2014 will be driven primarily by foreign demand while domestic demand will be constrained by high unemployment, the deleveraging ...

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Turkey

The current forecast revises our March GDP growth outlook for the year 2014 upward, from 2.2% to 2.9%, on account of strong export growth and a softened stance ...

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Ukraine

The newly approved IMF ‘rescue package’ has averted a balance-of-payments crisis and stabilised the currency following a 50% depreciation. However, the ...

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