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IMF: Growth in CESEE Region to Accelerate

Published: January 23, 2013; 20:03 · (Vindobona)

In the next three years, economic growth rates in central, eastern and southeastern Europe will return to the pre-crisis level, IMF says.

IMF: Growth in CESEE Region to Accelerate / Picture: © Vindobona.org

The world economic growth rate will come at 3.5%, IMF reports. Compared to the prior forecast of October 2012, the expected GDP growth shrinks by 0.3% percentage points. The main reason are the austerity measures and the slow consumption growth. The world economic growth will mainly come from emerging countries, IMF says. In 2014, the growth rate in these markets will climb to 4.1%. The emerging countries of the CESEE region will be below this growth rate. However, the growth will accelerate, IMF says. This year, the average growth rate will reach 1.8% in the CESEE region. In 2014, GDP growth is estimated to come at 2.4%. In 2015, IMF anticipates a growth rate of 3.1%.