The Czech Republic, Hungary and Poland are pushing the Euro adoption process towards an unknown future, despite the fact that, within the last few years, some of them have been able to participate in the in ERM II mechanism, for a period of at least two years before they can qualify to adopt the Euro. Continue reading CEE-Benefits and Disadvantages of Joining the Eurozone
Czechia has the lowest unemployment in the European Union, at 2.9 per cent, says the recent Eurostat report. The country is followed by Germany (3.8 per cent) and Malta (4.1 per cent). Even though there are countries with lower labour costs, Czechia’s costs are still significantly lower than in Western Europe; the average hourly wage cost in the country is only €10.20 compared to €24.40. So, what else makes Czechia an attractive business destination? Continue reading Prospering Czechia Still Needs a Bigger Workforce
A host of flash estimate GDP data released by Eurostat and national statistics offices on August 16th showed that the economies of EU-CEE had another highly impressive quarter of growth in April-June. In seasonally-adjusted terms, growth strengthened in relation to Q1 from already elevated levels in the Czech Republic, Latvia, Poland and Bulgaria. In Romania and Slovakia momentum was unchanged relative to the previous three months, while in Lithuania and Hungary it slowed slightly. Data for the other EU-CEE economies—Slovenia, Estonia and Croatia—are not yet available. Continue reading EU-CEE Is Still Growing at a Healthy Rate
According to Viktor Orbán the V4 is “as strong as never”. Orbán considers the strengthening of this group as the most important event in recent times. Is this really so? Is V4 really strong? Does it even exist at all? Continue reading How strong is V4?
According to a recent (May 2017) public opinion poll, 72 per cent of Czech people favour keeping their national currency whereas only 21 per cent would welcome a switchover to the Euro. Continue reading Czech Own Currency Insures Against Euro Losses
The inflow of FDI had long been considered the main driver of economic growth in the countries of Central and South-eastern Europe. During the transition to a market economy, FDI provided much-needed capital and knowledge, as well as access to technology and markets. Continue reading Ex-Transition Economies’ FDI Recovery
Brexit negotiations started in Brussels on June 19, almost exactly a year after the UK’s vote to leave the EU. Continue reading Impact of Brexit on EU-CEE Not Overstated
In Central Europe and the Baltics growth will pick up on the back of the investment recovery which is linked to a better absorption of EU funds, Artur Radziwiłł, Director for Country Strategy and Policy, European Bank for Reconstruction and Development (EBRD), tells Emerging Europe.
For the economies of emerging Europe, the international economic environment appears generally positive. In 2017-2018, GDP growth in the Euro area is expected to hover at around 1.7 per cent. The international financial markets have stabilised and the current economic mood is improving. Because of the global recovery, the US Fed is expected to increase interest rates further in 2017, while oil prices are likely to rise. In the EU, disbursements from the payments’ cycle of the European Structural and Investment Funds are only just beginning, indicating higher co-financed investments in the Central and Eastern European EU member states (EU-CEE) from this year onwards.
Tomas Macura, mayor of Ostrava, told Emerging Europe that his city needs to continue its transformation from traditional industries to innovative sectors and is changing its approach in order to attract more investment, for example, in business services.
Adriana Krnáčová, mayor of Prague, speaks to Emerging Europe about the city’s first visit to MIPIM, as well as about the capital city’s development strategy (together with the cities of Brno and Ostrava).
Christopher Zeuner, managing director for CEE at LaSalle, explains what makes Central and Eastern Europe a great destination or real estate investment.