Eastern Europe Heads for Slowdown
While eastern European economies have yet to be hit hard by the international financial crisis, the happenings in the West are causing a slowdown in many of the former Soviet Bloc nations. Eastern Europe's slowing economies face growing risks from the global credit crunch, but most of the ex-communist regions will post faster growth than western Europe in 2009, the International Monetary Fund (IMF) said Wednesday. Slovakia, which is slated to switch to the euro on Jan. 1, was tipped to lead growth next year -- 5.6 percent -- followed by European Union newcomers Romania, 4.8 percent, and Bulgaria, 4.2 percent.
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