Monthly Report No. 7-8/2016

Recent Economic Developments in Central, East and Southeast Europe Table Overview 2015 and outlook 2016-2018 (p. 1) Figure GDP growth in 2015-2016 and contribution of individual demand components in percentage points (p. 2) Albania Mixed signals from domestic and external demand (by Isilda Mara; p. 3) Belarus Departing from the bottom (by Rumen Dobrinsky; p. 4) Bosnia and Herzegovina Time to get constructive (by Vladimir Gligorov; p. 5) Bulgaria Private consumption buoys growth (by Rumen Dobrinsky; p. 6) Croatia Economic recovery amid political mess (by Hermine Vidovic; p. 7) Czech Republic Performance better than expected (by Leon Podkaminer; p. 8) Estonia Stagnant investment and external demand keep growth subdued (by Sebastian Leitner; p. 9) Hungary Investments implode, growth backed by household consumption (by Sándor Richter; p. 10) Kazakhstan Economy further loses strength (by Olga Pindyuk; p. 11) Kosovo SAA in force since April (by Mario Holzner; p. 12) Latvia Growth acceleration delayed (by Sebastian Leitner; p. 13) Lithuania Export-supported growth revival (by Simona Jokubauskaitė; p. 14) Macedonia Political instability affects investments (by Vladimir Gligorov; p. 15) Montenegro Building a road and democracy (by Vladimir Gligorov; p. 16) Poland Unexpectedly weak start into 2016 (by Leon Podkaminer; p. 17) Romania Weak production response to consumption boom (by Gábor Hunya; p. 18) Russian Federation Bottoming out, feeble recovery ahead (by Peter Havlik; p. 19) Serbia Recovery continues, but something is rotten (by Vladimir Gligorov; p. 20) Slovakia Growth slowdown expected this year (by Doris Hanzl-Weiss; p. 21) Slovenia Exit from excessive deficit procedure (by Hermine Vidovic; p. 22) Turkey Consumption-based growth (by Serkan Çiçek; p. 23) Ukraine Muddling through (by Vasily Astrov; p. 24)