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Weak Global Economy Discouraging Exports
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The economies of Eastern European countries have had a slow 2019, with stalling or contracting growth in certain economies. The global economic slump, ongoing trade wars, the weak German economy, and Brexit have discouraged external demand. Internal demand, due to low inflation, wage growth, and tight labor markets, has been able to sustain the production and manufacturing sectors in Bulgaria and Poland. Tight monetary policy and an expansionary fiscal policy are being implemented in most EE countries. They are expected to control inflation and sustain growth through public spending in Czech Republic, Hungary, Russia, and Kazakhstan until external economies recover and improve trade income. Ukraine has recorded a sustained economic growth until Q32019 and is expected to sustain the growth into 2020, thanks to increased wheat exports. Turkey has experienced a contraction in growth for 2019, and the ongoing war with the Kurdish forces in Syria is expected to increase military spending and redirect public expenditure. However, the depreciated currency is expected to inject cash into the economy and stimulate consumption in 2020.Country Coverage: Eastern Europe· Bulgaria· Czech Republic· Hungary· Poland· Turkey· Ukraine· Russia· KazakhstanSector Coverage: economic indicators, demographics, energy, manufacturing, food and beverages, chemicals, pharmaceuticals, plastics, mining, electricity, construction, agriculture, healthcare, information and communication technologies.Indicator coverage: Gross Domestic Product (GDP) and its components, GDP growth, export and import, foreign direct investment, inflation, business confidence, population and demographics, index of industrial production (IIP), value-add by industry, trade by industry, IIP by industry, production of important commodities, oil production and consumption, oil export and import, renewable energy, emissions, coal production and consumption, healthcare spending, Internet and mobile subscription, and regional GDP growth calculationYear, Quarter, and Month Coverage:· Yearly data: 2015–2023· Quarterly data: Q1 2015–Q4 2020 (Select Indicators)· Monthly data: January 2015–December 2019 (Select Indicators)Author: Rituparna Majumder
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