In 1990, GDP per capita in Poland and Ukraine was roughly the same and amounted to some $1,600. By the end of 2016, Polish GDP grew to $12,700. In 2013, GDP per capita in Ukraine equalled $4,200 but the recent recession has caused it to fall again, to some $2,000.
Leszek Balcerowicz is a former Polish deputy prime minister, and he is known for implementing the Polish economic transformation programme in the 1990s: this was a shock therapy that is commonly referred to as the Balcerowicz Plan. He is a former governor of the National Bank of Poland, and currently, he is Ukrainian President, Petro Poroshenko’s, representative in the cabinet of ministers. He spoke to Andrew Wrobel about Poland’s transformation in the 1990s and the current government’s economic growth plans, as well as his ideas for the economic development of Ukraine. Continue reading Ukraine Can Learn from Poland’s Economic History
In November 2016, Bulgarian opposition Socialist, Rumen Radev, won the presidential election, defeating the centre-right speaker of parliament, Tsetska Tsacheva, an ally of Prime Minister, Boyko Borissov. The PM had pledged to step down if his candidate lost, and he did thus triggering an early election.
Larisa Manastirli, Director for Bulgaria at the European Bank for Reconstruction and Development (EBRD), which is a leading investor in the Bulgarian economy, spoke to Andrew Wrobel, about the reforms the country has introduced and the improvements that are still required, ten years after Bulgaria joined the European Union. Continue reading Where is Bulgaria After Ten Years in the EU?
Lviv is the important cultural, economic and scientific centre of western Ukraine. Its architectural charm and cultural heritage have earned the city the nickname, Pearl of Ukraine. It is also a modern city that is looking towards a bright future thanks to the development of the IT sector.
Andriy Sadovyi, Mayor of Lviv, spoke to Andrew Wrobel about his city’s key sectors, his future vision for the city and the amazing ambiance that makes Lviv a must-see on the European tourist map. Continue reading Lviv Is the Pearl and the Soul of Ukraine
Since it obtained full sovereignty from the Soviet Union, in 1991, Ukraine has remained suspended somewhere between the East and the West, being pulled closer to one or the other by various administrations. Now, paradoxically, an important stimulus for defining the future identity of this country of over 40 million has come, with the Russian occupation of the eastern part of Ukraine in 2014.
Ivanna Klympush-Tsintsadze, Ukrainian Deputy Prime Minister for European and Euro-Atlantic Integration, spoke to Nikodem Chinowski about the prospects for integration with NATO and the European Union and about the development of the Ukrainian economy, a few days ahead of the 25th anniversary of the country’s independence. Continue reading Ukraine Is Offering Europe Unique Combat and Technological Experience
In 2015, foreign companies invested almost $3.4 billion in Romania, which is also the average FDI that the country has attracted in the last four years, according to the World Investment Report 2016. In 2016, Romania is expected to be the EU’s fastest growing economy. Will that growth help the country increase FDI into the country?
Manuel Costescu, Secretary of State at the Ministry of Economy of Romania, is responsible for foreign direct investment as the Head of InvestRomania. He talked to Andrew Wrobel about the country’s new investment promotion strategy, Romania’s key sectors and the successes the country has achieved in fighting corruption and improving its business climate. Continue reading The Reality in Romania Exposes False Perceptions Of The Country
Today, people across the United Kingdom are casting a vote that could change their country, but which could also transform European politics. The Remain camp claims that leaving the EU will be detrimental to Britain’s economy. Their opponents say the detriment to the UK of staying in the EU far outweighs the risks of leaving. They believe the Eurozone has been a disaster and maintain that it’s very important for Britain to regain control of their own borders.
Dr. Arup Banerji, Regional Director for the European Union countries for the World Bank Group, talked to Andrew Wrobel about the impact of Brexit on Central and Eastern Europe. They also discussed other challenges that the European Union is currently facing that concern the CEE region and the solutions that might help address these. Continue reading World Bank: Brexit Hides Greater Challenges to the European Union and the CEE Region
By 2025, business process outsourcing (BPO) centres will provide between 300,000 and 450,000 new jobs, says a McKinsey report. According to the Association of Business Service Leaders in Poland (ABSL), by April 2015, 356 investors had set up 532 BPO centres with foreign capital and employed about 150,000 people, across the country.
Tomasz Maciejak, CEO of Business Support Solution, and an audit and outsourcing expert, spoke to Emerging Europe about the prospects for the outsourcing and consultancy sector, as well as the business climate, benefits and the obstacles foreign investors can face in Poland. Continue reading Poland — Overcoming Old Ways to Become a Modern Business Location
In 2015, 1.19 million foreign tourists visited Armenia. That is one per cent fewer than in 2014, as the country attracted fewer visitors from Russia, but almost ten per cent more than in 2013. The country is also one of the ten safest destinations in the world, according to the Global Terrorism Index 2015. International airlines such as Air France and LOT fly to Yerevan regularly and Qatar Airways will begin flights in mid-May, 2016. Continue reading Mayor: Armenia And Its Capital Yerevan Offer Safe Investment And Tourism To a Growing World
In 2015, Bulgaria was named the best outsourcing destination by the UK’s National Outsourcing Association (NOA), and the BPO sector’s contribution to the country’s economy amounts to 3 per cent. In addition to this, the Bulgarian government is aiming to improve the country’s business climate by offering a range of incentives for foreign investors as well as individuals. The country currently has the lowest rate of personal income tax in the European Union and it offers fiscal citizenship to foreign nationals, working in Bulgaria. Continue reading EconMin: Bulgaria — Number One Outsourcing Destination And an Island of Stability in Europe
According to the European Commission, the Slovenian economy grew by 3.0 and 2.5 per cent in 2014 and 2015 respectively. Slovenia also has 83 per cent of the EU average GDP per capita, making them, together with the Czechs, one of the most affluent nations in emerging Europe.
Emerging Europe spoke to Zdravko Počivalšek, Minister of Economic Development and Technology of the Republic of Slovenia, about the country’s plans for further growth, privatisation and their approach to foreign investors. Continue reading Economy Minister: Internationalisation Is the Key To the Slovenian Economy
Croatia joined the European Union on July 1 2013 and is still the youngest member state. The country suffered from the global economic crisis but is now on a straight path to growth. Emerging-Europe.com speaks to Ivan Vrdoljak, Croatian Minister of Economy, who had been in the office for two years prior to the country’s accession and is now ending his term as Croatia prepares for a general election in November. Continue reading Economy Minister: Croatia Is Out Of Recession And Looking To Achieve Further Growth
A fast-growing number of reciprocal business visits between the United Arab Emirates and Central and Eastern Europe, an increase in mutual trade and investment and, finally, very successful flight connections to cities like Warsaw or Prague, launched only a couple of years ago — Why Emerging Europe spoke to H.E. Abdulla Bin Ahmed Al Saleh, Deputy Minister of Economy of the United Arab Emirates, about the prospects of future collaboration between the UAE and the CEE region. Continue reading CEE offers enormous business opportunities, says UAE minister