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CESEE Outlook: Modest Recovery - EU is Obstacle to Growth – BREXIT Poses Uncertainties
According to the latest prognosis of the Vienna Institute for International Economic Studies, the countries of Central, East and Southeast Europe (CESEE) will have a trend growth rate of up to 3% in the period of 2016-2018. This is 1-1½ percentage points higher than average growth in the eurozone. Consumption will be the main growth driver. The Austrian economy is still benefiting from its economic ties with the region. Direct effects of BREXIT on the region will be limited – indirect effects for the European economy as a whole may be considerable.
CEE Outlook: Modest Recovery - EU is Obstacle to Growth – BREXIT Poses Uncertainties / Picture: © Vindobona.org
Modest recovery in the east – EU fiscal rules act as obstacle to growth – BREXIT poses new uncertainties
WIIW expects a GDP trend growth rate of up to 3% for CESEE over the medium term. Household consumption will be an important component of economic growth, especially for the EU members of Central and Eastern Europe.
There, consumption replaces EU-co-financed…
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