Countries Overview

Albania

Despite the political turmoil, the Albanian economy has forged ahead supported both by domestic and external demand. Investments will continue on a positive ...

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Belarus

The economic slump in Belarus is coming to an end with GDP growing by 0.3% year on year in the first quarter. After the settling of the gas dispute with Russia,...

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Bosnia and Herzegovina

Growth will average well over 3% during the forecast period, underpinned by low oil prices, remittance inflows, investment and supportive external conditions. ...

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Bulgaria

A broad-based economic upturn is underway in Bulgaria. GDP increased by 3.9% year on year in the first quarter driven by robust performance in manufacturing and...

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Croatia

The collapse of Agrokor will impact Croatia’s economy in 2017. Thus, we expect lower GDP growth (2.7%) than last year, followed by an improvement to about 3% ...

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Czech Republic

The country’s currency has been re-floated and consequently strengthened as expected. External trade performs satisfactorily all the same. Under the impact of...

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Estonia

Private investment activity has picked up strongly at the beginning of 2017, while the increase in external demand is continuing. Hence we forecast GDP to grow ...

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Hungary

GDP growth in the first quarter of 2017 was stronger than expected. Investment has been the main driver of the expansion, supported by a moderate increase of ...

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Kazakhstan

Kazakhstan has increased its oil output contrary to its commitments to OPEC to curb oil production. The national currency has appreciated by 20% against the US ...

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Kosovo

Growth will average close to 4% during the forecast period, driven by consumption and investment, making Kosovo one of the fastest growing economies in the ...

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Latvia

For 2017, we expect external demand to grow again. Stronger than anticipated investment growth seems to materialise already in 2017, driven by the speed-up of ...

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Lithuania

Given the improving situation in the labour market and sharply rising incomes, household consumption will remain the most important driver of growth in 2017 and...

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Macedonia

In the near term, the effects of the crisis on the growth of GDP will have to be felt. Growth this year is currently looking closer to being 2% at most, though ...

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Montenegro

The forecasted growth rate is below Montenegro’s potential given the unemployment rate for one, which is expected to remain not much below 20%. Assuming that ...

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Poland

Under the impact of fast growth in wages, employment and household incomes, real growth has accelerated. Deflationary tendencies have stopped – a mild ...

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Romania

In view of the robust first-quarter growth we have revised upwards the GDP forecast to 4.8% in 2017 and to 4.3% in both of the following two years. The recently...

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Russia

The growth momentum that seemed to gain strength at the end of last year has substantially weakened in the first months of 2017. No major reforms are on the ...

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Serbia

All in all a growth of 2.5% this year looks somewhat optimistic in view of the first-quarter data. If growth in the second quarter comes in below 3%, a downward...

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Slovakia

Slovakia is on a sustained robust growth path. For 2017, we estimate GDP to rise by 3.3%, backed by household consumption, modestly reviving investment as well ...

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Slovenia

Following the favourable developments during the first months of the year, we have revised our GDP growth forecast from the earlier 2.9% to 3.5% in 2017. GDP ...

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Turkey

The economy is growing quite strongly, underpinned by government stimulus and measures to boost credit, strong export demand, and still-low oil prices. Despite ...

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Ukraine

Economic recovery has lost some of its momentum, as industrial production and exports have suffered due to the trade ban with the separatist-controlled areas of...

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