Countries Overview

Albania

Investment will continue to be a major component of growth whereas household consumption will recover only slowly. Exports will continue to be negatively ...

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Belarus

NEW: 1 July 2016 denomination of the Belarusian rouble. Read more here

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Bosnia and Herzegovina

Growth should pick up speed, driven by investments and exports, as long as the political climate continues to improve, regardless how slowly. Our forecast hints...

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Bulgaria

Driven by a combination of positive domestic and external factors, GDP growth in 2015 outperformed expectations. The economy, however, is mired in chronic ...

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Croatia

In 2015 Croatia’s economy returned to mild growth. The turnaround was backed by a rise in external demand and a modest recovery in household consumption and ...

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Czech Republic

The recent expansion of infrastructural investment is not going to extend into the years ahead. However, in the light of the low level of debt in the private ...

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Estonia

Household consumption remains the strongest driver of economic activity in Estonia, the major push factor being the rapid growth in both minimum and overall ...

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Hungary

In 2015 Hungarian GDP increased by 2.9%, aided by a peak inflow of cohesion policy transfers from the EU. In 2016, EU transfers will decline sharply. Despite ...

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Kazakhstan

In 2016, GDP growth will slow down still further to 1% as global oil prices are expected to be lower than the 2015 average. Growth is projected to pick up speed...

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Kosovo

Despite hefty political infighting, the economy of Kosovo is growing at a rate of almost 4% per annum. The dynamics might even accelerate in the years to come. ...

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Latvia

In 2016, GDP will rise by 3%. The slump in Russian demand can be offset by growth in exports to the EU and Asian markets. Household consumption will develop ...

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Lithuania

The introduction of the euro and the management of the difficult geo-economic situation were arguably the major features of the Lithuanian economy in 2015. The ...

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Macedonia

Growth over the medium term should settle at just above 3%, with investment and exports as the driving forces. As democratisation takes hold, political ...

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Montenegro

Growth of up to 3% per year is expected, with investments and exports acting increasingly as the main drivers. The upcoming elections and joining NATO should ...

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Poland

The current moderate and broadly based growth will continue over the period 2016 2018 – with GDP averaging 3.4%. There is, however, every reason to expect ...

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Romania

In 2015 economic growth accelerated. In 2016 GDP will expand further by some 4%. Private consumption will enjoy a pro-cyclical boost thanks to tax-cuts and wage...

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Russia

Contrary to earlier expectations, the Russian economy will remain in recession in 2016. With oil prices having plunged anew at the beginning of 2016, export and...

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Serbia

Slow recovery in tandem with investment and export growth is to be expected over the medium term. Growth over the next three years or so should reach 2% or ...

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Slovakia

Strong growth in terms of gross fixed capital formation helped GDP to soar upwards by 3.6% in 2015. For the period 2016-2018, growth will range around 3%, with ...

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Slovenia

Having increased by 2.9% in 2015, GDP growth in Slovenia will slacken to about 2% in both 2016 and 2017 on account of the drop in volume of EU-funded ...

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Turkey

Owing to both a 30% net rise in minimum wages and the current generous government spending, we expect GDP to expand by 3.2% in 2016. As for 2017 and 2018, we ...

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Ukraine

Barring a resumption of large-scale fighting in Donbas, the economic decline has now most probably bottomed out. However, given the depressed domestic demand ...

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