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September 24, 2020
BUSINESS

Eastern Europe economies show signs of a recovery

Political situation in Romania may remain tense.

The political situation in Romania may remain tense in the following months and austerity measures have led to a growing number of protests by the people, according to a research report drafted by Raiffeisen Capital Mana­gement, quoted by HotNews.ro. Nonetheless, economies in Central and Eastern Europe continue to show signs of a recovery, especially as far as Poland and the Czech Republic are concerned. Signs are also encouraging in Turkey’s case.


According to the report, the effect of intensifying efforts towards a budget consolidation will be felt in the following years in terms of the European Union’s economic growth rate and internal demand will play an ever larger part in ensuring a sustainable recovery in Central and Eastern Europe.


In October, bonds markets in Central and Eastern Europe reported, again, a positive trend, even if, towards the end of the month, some of the earlier momentum was lost. Solid economic results in Germany largely accounted for the growing trend. The stabilisation process continues in Russia, as well. The unemployment rate dropped significantly, but, at present, Russia only collects an infinitesimal share out of the global capital flows on the emerging markets. In Hungary, the economic situation remains positive, backed by a robust external demand, which led to a growth of production. Nonetheless, the inflation rate in Hungary rose slightly up to 3.8 pc.
In Poland, on the other hand, there is a positive dynamics as regards internal demand and the economy remains stable. In the Czech Republic, as well, the economy is recovering at a fast pace, relying mostly on growing external demand, while, in Turkey, both industrial production and the unemployment rate are on the rise.

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