Strength of CEE’s local banks to offset GDP slowdown
Growth is expected to slow across central and eastern Europe this year, but the region has a trick up its sleeve: a well developed local banking system that in the 30 years since the fall of the Iron Curtain has evolved into a self-sufficient source of financing for the region.
The IMF’s World Economic Outlook, released in April, projects GDP growth across emerging Europe at 0.8%, a stark decline from recent years of prosperity, such as 2018, when GDP grew by 3.6%. The EBRD is set to unveil a similar decline in its growth forecast.Weakness in the ...
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