Transition Report Update, May 2005
- European Bank for Reconstruction and Development (EBRD)
The Transition Report Update provides a timely economic snapshot of the countries from central Europe to central Asia. With recent changes in governments and movements in world markets, this report will allow for the most informed investment decisions possible. It focuses on the months since the publication of the Transition Report 2004, available below.
This Update concentrates on the macroeconomic developments and capital flows in the transition region in 2004. Average growth in the region was 6.5 per cent, the strongest year since the beginning of transition, showing the benefits from the improved global economy, strong domestic demand, and - in the case of the resource-rich Commonwealth of Independent States (CIS) - continuing high commodity prices.
Growth is expected to slow to 5.2 per cent in 2005, reflecting a less favourable global environment. Net capital inflows reached US$ 47.4 billion, and portfolio investments were worth US$ 20.4.
The Update recognises several risks to future progress:
fiscal imbalances in central eastern Europe and the Baltic states;
political instability and large external imbalances in south-eastern Europe;
and resource dependence in the CIS.
|Format||Paperback||Published||20 May 2005|
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