Increased trade and the near-to-zero interest rates in Poland and Hungary will stimulate Central Europe’s economies to grow by 3.6 percent in 2021, according to Franziska Ohnsorge from the World Bank.
The expert responsible for World Bank forecasts is optimistic about the prospects for Central Europe and emerging markets.
However, she believes that the forecast has a high-risk factor due to the uncertainty caused by the pandemic. It is taking longer for the pandemic to recede and tourism especially is likely to lower the growth dynamic, especially in states which are more dependent on that sector of the economy.
Czech, Hungarian, Polish, and Slovak economies proved resilient to pandemic: Fitch credit rating agency
Strong growth on the horizon in 2022
Polish central bank: Mild COVID hit for Poland’s economy
According to Poland’s central bank, the country’s economy is going through one of the mildest recessions in Europe as a result of the pandemic
Hungary drops income tax for citizens under 25 to stop youth emigration
Following the Polish example, PM Viktor Orbán announced that Hungary is dropping income tax for people under 25
Fitch: Hungarian economy will boom in 2021-22
Hungary will outperform both its peers and the EU as a whole, according to Fitch ratings
Poland signs four agreements for Via Carpathia transnational highway in 2020
A major highway project connecting Central and Eastern European nations from north to south is moving forward
V4 finance ministers sign declaration of financial and economic cooperation
V4 will cooperate on fighting tax fraud and taxation of the digital economy
Central Europe best positioned to recover from coronavirus pandemic
Central Europe handled the crisis well and is set to resume growth
Hungarian GDP grew in Q1 compared to Western European decline
The Hungarian economy grew by an annual 2.2 percent in Q1
Poland ranks close to the top in EU military spending
The Polish government spent over €8 billion on defense in 2018
EBRD upbeat on Central European economies
Economic growth in Central Europe and the Baltic states will remain above average both this year and in 2019, the European Bank for Reconstruction and Development (EBRD) said in its latest Regional Economic Prospects report.
Lithuanian PM awarded Krynica Man of the Year
The Prime Minister of Lithuania Saulius Skvernelis is the 28th Krynica Economic Forum’s Man of the Year. The award is given to people whose behavior and accomplishments had the greatest impact on Central-Eastern Europe.