CEE economic outlook 2009 - far better than Western Europe (27.11.2008)
Slovakia 5%, Romania 4.8%, Bulgaria 4.1%, Poland 3.8%, Czech Republic 3.4%, Hungary 1.5%. These GDP growth prospects 2009 now published by the Economist Intelligence Unit are not as gloomy as could have been expected in times of a global economic crisis. Especially when comparing to the negative figures of Western markets (UK -1%, Spain -0.6%, Italy -0.3%, France -0.1%, Germany 0.2%).
The economic outlook for Central and Eastern Europe is thus not so bleak given the worldwide economic downturn. As in the past few years the region could prove to be the EU’s engine for growth – apart from Hungary. This so as big business potential still slumbers in the CEE region (due to its stable business environment, low wages, proximity to EU markets, high-quality infrastructure, € adoption etc.). Therefore it is not surprising that just now many look to seize the opportunities in the east to defy the odds of the slumping markets further west.
