Countries Overview
Albania
The Albanian economy maintained its positive trajectory in the first half of 2025, with growth expected to hover at around 4% for the entire year, supported by ...
Belarus
In Q1 2025, economic growth continued to decelerate, dropping to 3.0% year on year (from 4.0% in 2024) – although on a quarterly basis it accelerated. The ...
Bosnia and Herzegovina
In the first half of 2025 the economic activity signals were mixed. Industrial output rose in the first four month, but retail sales declined. Meanwhile credit ...
Bulgaria
On 4 June 2025, Bulgaria took delivery of favourable convergence reports from the European Commission and the European Central Bank, indicating that the country...
Croatia
The economy is off to a plodding start in 2025, with GDP growth slowing to 2.9% year on year in Q1, down from 3.9% in Q4 2024. For 2025 as a whole, growth is ...
Czechia
The Czech economy continued its recovery in Q1 2025, with GDP expanding by 0.8% quarter on quarter and by 2.2% year on year. Growth was driven primarily by ...
Estonia
Estonia’s economy has entered a phase of gradual recovery. Early 2025 has brought a modest rebound, supported by stabilising private consumption, improved ...
Hungary
In Q1 2025, GDP fell by 0.4% year on year. The performance of industry and construction declined considerably; that of agriculture marginally. A modest 1.1% ...
Kazakhstan
Despite accelerating inflation and declining global oil prices, the economy remains resilient. Real GDP grew by 5.6% in Q1 and business sentiment in ...
Kosovo
Economic growth in 2025 could face several challenges, as the delayed formation of a government affects investor confidence and slows the inflow of FDI (despite...
Latvia
Latvia’s economy is emerging from stagnation this year; however, demand – both external and internal – is being curbed by the uncertainty caused by recent...
Lithuania
In Q1 2025, the Lithuanian economy remained in high gear, with real GDP increasing by 3.4% in real terms, year on year. Public investment is currently the ...
Moldova
Moldova’s only hope of avoiding stagnation in 2025 would seem to be a protracted spell of normal weather, leading to an upsurge in agricultural output. ...
Montenegro
GDP growth in Q1 amounted to 2.5% – somewhat weaker than expected and almost half the figure for the same time last year. Overnight tourist stays are trending...
North Macedonia
The economy performed better than expected in Q1 2025, with GDP growing by 3%. This was largely due to robust construction output on the highway projects ...
Poland
Poland’s economy made a solid start to 2025, with GDP growing by 3.2% year on year in Q1, continuing the trend seen in 2024. Growth was driven mainly by a ...
Romania
Economic growth is projected to be 1.2% in 2025, well below earlier forecasts. While investment is set to increase and agricultural conditions may improve, ...
Russia
After two years of economic boom, growth momentum has weakened markedly. In the first four months of 2025, economic activity grew by a mere 1.6% and industrial ...
Serbia
In Q1 2025, GDP grew by 2% year on year – a clear slowdown compared to the previous two years, though broadly in line with expectations. The main reason for ...
Slovakia
In Q1 2025, Slovakia recorded one of the lowest growth rates in the euro area: just 0.9% year on year. Household consumption provided only modest support for ...
Slovenia
Following an unexpected contraction of 0.8% in Q1 2025, we have revised our growth forecast for 2025 down to 1.6%. The main drag on growth in the first quarter ...
Turkey
The economy grew by 2% year on year in Q1, driven by household and government consumption, while net exports continued to weigh heavily on growth. Activity was ...
Ukraine
Ukraine’s economic performance is continuing to decelerate – preliminary estimates put real GDP growth in Q1 2025 at about 1% year on year, a marked ...