EASTERN EUROPE CONSENSUS FORECASTS MARCH 2014
Unlike most recoveries from recession, GDP growth in Central and Eastern Europe has remained weak almost six years after the 2008 financial crisis. Of course, it is not uncommon for long ‘U’ rather than ‘V’ shaped corrections to follow deep economic shocks. Yet an extended ‘L’ shaped cycle has led panellists to ponder whether ‘potential growth’ rates have been ‘permanently’ affected. Unorthodox policy responses to the global slump, alongside the retreat of foreign banks, have certainly shifted perceptions about foreign investment. Governance considerations and the political fallout…..
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