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Thursday, September 21, 2017

Report: Central Europe shows economic growth potential

A UniCredit report released on Wednesday said reform-minded countries in Central Europe have the potential for economic growth in 2015.

The report said economies that have plans to reform or are in the process of making changes would likely see growth in 2015, but stress that domestic demand will be crucial as global trade is not as strong as it could be. This sluggish global trading is causing some countries in Central and Eastern Europe (CEE) to see exports as a burden rather than as a driver for growth. Strong increases in domestic demand put extra pressure on imports, and some nations in the CEE region are experiencing an unstable recovery and weak demand from emerging economies.

The report said the conflict in Ukraine had a limited effect on CEE countries, adding that international sanctions against Russia are a key issue for the region. The report said European Union sanctions could be lifted if there is no consensus to renew them. U.S.-led sanctions are not expected to be lifted until there is a solution to the crisis in Ukraine.

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UniCredit - Azerbaijan

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