Central and eastern Europe rapidly improve economic growth

Unemployment rates are at their all-time low in Poland, Czech Republic, and Romania.

© Nick Youngson at Creative Commons Images

Rapid and positive predictions for economic growth is clearly seen in central and eastern Europe as studied by Consensus Economics, a macroeconomic survey firm in London.

According to the Financial Times, the research showed that the region’s GDP grew to 2.5 percent, which is 0.3 percent higher than it was four months ago. Experts predict a 2.6 percent increase by the start of 2018.

Liam Carson, Emerging Europe economist at Capital Economics, told Financial Times: “The recent strong run of economic data — particularly the stronger-than-expected Q1 GDP — has prompted analysts to revise up their forecasts.”

A specific indication of this growth is displayed by Romania, which has the highest growth rate in the EU with an annual rate of 5.6 percent. Unemployment rates in Poland, Czech Republic, and Romania are also at their all-time low and are below the EU average unemployment rate.

The Financial Times report said that foreign investments, a tighter labour market, the improvement of EU structural funds, and simple financing conditions are among the factors that strengthen the growth of the region.

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