Countries Overview

Albania

Our forecasts are largely unchanged from the spring, and we continue to expect the economy to remain strong and grow above 4% in the medium term. Both domestic ...

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Belarus

The economy has rebounded thanks to an improving external environment and a policy stimulus engineered through wage rises. Real disposable income rose sharply ...

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Bosnia and Herzegovina

Political risk is unusually high following the recent election, and in particular the potential for a constitutional crisis in the Federation. This will have ...

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Bulgaria

GDP grew by 3.3% in the first half of 2018 which was below the rates of growth in the three preceding years. The moderation in output growth coincided with a ...

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Croatia

Croatia’s economy will continue its path of moderate growth, with annual GDP growth of slightly below 3% in the period 2018-2020; increasing the absorption of...

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Czech Republic

The Czech economy may face a period of slowing growth. Tight labour markets and the wage push which have supported growth recently may produce second-round ...

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Estonia

Investment activity has abated so far in 2018, following last year’s peak growth induced by fresh inflows of EU funds. However, external demand continued ...

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Hungary

The Hungarian economy expanded by 4.8% in Q2 of 2018, reaching the zenith of the current business cycle. Growth has been driven by the extraordinarily rapid ...

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Kazakhstan

GDP will grow by 4% in 2018, mainly owing to high oil prices and expansion of production in the oil sector. In 2019-2020, the economy will continue benefiting ...

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Kosovo

We forecast that growth will strengthen further to above 4%. Imminent risks due to political tensions surrounding the consultations about territorial swapping ...

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Latvia

Both public and private investment have kept the economy growing at a high pace in 2018 and exports evolved more strongly than expected. Household consumption ...

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Lithuania

Public and private investment have driven growth in the Lithuanian economy for another year. A further decline in unemployment has resulted in rapid wage ...

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Macedonia

The Macedonian economy started to recover in 2018 owing to a strong revival of industry and solid export performance. Real GDP is projected to grow by about 3% ...

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Montenegro

In 2018, GDP will grow by 4.2% – better than previously expected. The main driving forces behind the dynamic growth are fast growing investment and exports. ...

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Poland

Despite lower profits the corporate sector’s financial standing and financing conditions are good. But the private domestic firms are reluctant to expand ...

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Romania

The Romanian economy is experiencing an unavoidable slowdown, following a boom based on fiscal stimulus of household consumption in the past two years. Economic...

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Russia

The Russian economy continues to grow at a slow pace. The unimpressive performance is forecast to last even in the medium term since no improvements in either ...

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Serbia

Current economic growth and the near-term outlook are as good as has been the case at any time since the global financial crisis a decade ago. A combination of ...

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Slovakia

Slovakia’s growth accelerated in the first half of 2018 on a broad base. Forecasts for this and next year amount to 3.8% and about 4% respectively, thanks to ...

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Slovenia

GDP growth is expected to reach 4.5% in 2018, but will slow due to lower export growth in the forecast period. Domestic demand, investments fuelled by EU ...

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Turkey

Turkey’s economy is heading for recession, and is set to face at least several difficult quarters. US monetary tightening, and domestic and international ...

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Ukraine

Thanks to the booming domestic demand, economic growth should exceed 3% this year but will likely decelerate somewhat in 2019 due to recent monetary policy ...

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