Stepic: „CESEE Region Faces Challenging Year“

People ♦ Published: January 15, 2013; 19:03 ♦ (Vindobona)

RBI´s (Raiffeisen Bank International) CEO Herbert Stepic explained that central, eastern and southeastern Europe is still Europe´s growth engine.

Stepic: „CESEE Region Faces Challenging Year“ / Picture: © Flickr / St. Petersburg International Economic Forum

In 2013, economic growth in the CESEE region will be 2.0 percentage points higher than in Western Europe, Stepic says. As a result, the region will remain Europe´s growth engine. Due to the relatively low public debt quotas, the higher growth rates compared to west European countries and the lower unemployment rate, the asset quality in the CESEE region is “adequate”, Fitch stated…