Slight Upward Trend for CESEE Countries

BusinessEconomy ♦ Published: February 1, 2013; 14:08 ♦ (Vindobona)

The economic crisis in the Eurozone has hit the CESEE countries particularly hard, EBRD reports. 2013 will be a better year.

Slight Upward Trend for CESEE Countries / Picture: ©

In the last months, EBRD had to revise the growth forecasts for the CESEE countries several times. This was due to the lower domestic consumption, the slowdown in exports to the Eurozone and the declining foreign direct investments. Besides that, lending of Western banks has decreased substantially.

In Poland, the estimated GDP growth comes at 1.5% instead of 2.2%. Ukraine´s GDP…