GDP of Central and Eastern Europe to grow 2.9 pct in 2013: Bank Austria
cri
2013/01/07
VIENNA, Jan. 7 (Xinhua) -- Analysts from Bank Austria are expecting an economic growth of 2.9 percent in Central and Eastern Europe (CEE) in 2013, the bank said on Monday.
The growth rate is lower than the previous estimate of 3.1 percent but higher than the 2012 figure of 2.5 percent, largely be driven by stronger external demand, low interest rates and lower inflation, according to a quarterly analysis of the bank.
Compared with 2012, most countries in the region would have "less financial stress and looser monetary policy" which would help growth, and an expected slight increase in food price inflation should be manageable, the bank said.
The analysts of the bank said the main asset of the region was still the flexibility and low costs of labor. But they said that economic growth in the region depended more on demand than on supply, and that even in a strong economic environment, growth could not be guaranteed. Enditem
The growth rate is lower than the previous estimate of 3.1 percent but higher than the 2012 figure of 2.5 percent, largely be driven by stronger external demand, low interest rates and lower inflation, according to a quarterly analysis of the bank.
Compared with 2012, most countries in the region would have "less financial stress and looser monetary policy" which would help growth, and an expected slight increase in food price inflation should be manageable, the bank said.
The analysts of the bank said the main asset of the region was still the flexibility and low costs of labor. But they said that economic growth in the region depended more on demand than on supply, and that even in a strong economic environment, growth could not be guaranteed. Enditem