Fasting or Feasting? Europe - Old and New - at the Crossroads (press conference presentation in German)

The Vienna Institute for International Economic Studies (wiiw) has just published its latest Analyses and Forecasts.
The report analyses current economic situation and medium-term forecast for the countries of Central, East and Southeast Europe.

For the CESEE countries, wiiw expects 2012 to be a rather disappointing year. GDP growth will be rather slow – at least when judged by the past standards and the ambitions harboured only a few years ago. Some countries (Czech Republic, Hungary, Slovenia, Bosnia and Herzegovina, Serbia) will suffer a mild recession or come close to it (Bulgaria, Romania, Montenegro). 2013 will be characterized by external imbalances developing anew in some countries, although these are not expected to culminate in a repetition of precipitate and disorderly rebalancing crises. The imbalances, if allowed to widen, may come to a sticky end later. The fiscal consolidation in many CESEE countries is pursued despite the revealed weakness of private consumption and investment, amid signs of flagging demand for CESEE exports.


Reference to wiiw databases: wiiw Annual Database

Countries covered: Albania, Bosnia and Herzegovina, Bulgaria, Central, East and Southeast Europe, CIS, Croatia, Czech Republic, Estonia, European Union, Hungary, Kazakhstan, Latvia, Lithuania, Macedonia, Montenegro, New EU Member States, Poland, Romania, Russia, SEE, Serbia, Slovakia, Slovenia, Turkey, Ukraine, Visegrad countries, Wider Europe

Research Areas: Macroeconomic Analysis and Policy, Labour, Migration and Income Distribution, International Trade, Competitiveness and FDI