Qualified advisers answering your
Financial Questions
call 0800 092 1245

EBRD revises its forecast for emerging European economies

The European Bank for Reconstruction and Development (EBRD) has today reduced its forecast for GDP growth within the emerging European economies for 2010 and 2011. It would appear that austerity measures taken by various governments around Europe will have a major impact upon the short to medium term performance of economies and could indeed push some economies back into recession.

The EBRD has reduced GDP growth forecast for 2010 to 3.5% from 3.7% for emerging Europe and from 4% to 3.9% in 2011. The fact that the Hungarian authorities are currently in talks with the IMF is a further issue which will needs to be addressed in due course because the two parties have been unable to come to an agreement. The Hungarian economy is literally on the verge of collapse and if this was to happen we would see an increase in borrowing costs in European money markets which would further impact upon other emerge European economies and Europe as a whole.

Despite the fact that it would appear we were over the worst of the credit crunch, and the worldwide recession, many issues are starting to come to the surface and could cause significant problems in the short to medium term.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details