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CEE upswing stronger than in the West

22. July, 2010

Recovery from the economic crisis is swifter in Central Eastern Europe than in Western Europe as the World Bank now reports. Economic growth for the 1st quarter 2010 was on average 0,8 % for Poland, Czech Republic, Hungary, Sovakia, Bulgaria, Romania, Slovenia and the Baltic States.

In the remaining 17 EU states the GDP rose by only 0,6% on average. However, major differences exist also between the 10 Eastern EU economies: While Poland and Slovakia saw strong growth, the Czech Republic and Hungary did not experience much of an upswing. In the Baltic states, Bulgaria and Romania the economies even shrank. More information is available on the homepage of the World Bank.