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| Austrian economists predict strong growth for Central and Eastern Europe |
| Viena, 02.07.2025 |
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| Despite the recent turmoil caused by the war in the Middle East, economic growth in Central, Eastern and Southeastern Europe is likely to remain stable. This was announced on Tuesday by the Vienna Institute for International Economic Studies (wiiw), which expects the region to continue to grow significantly faster than the euro area in its latest summer forecast. TASR reports this based on a report by the APA agency.
For the members of the European Union (EU) in the region, the institute expects growth of 2.3% on average this year, which represents a downward revision of 0.2 percentage points compared to the previous forecast. In 2026, growth in EU member states should accelerate to 2.8%, which is in line with the spring estimate. In the case of the euro area, wiiw expects growth of only 0.7% in 2025.
Economic development in Eastern and Central Europe is uneven. “While Poland, Bulgaria, Croatia and Lithuania continue to grow strongly, Hungary, Romania and Slovakia will need to cut spending to bring their high budget deficits under control, which will, among other factors, dampen growth there,” said Richard Grieveson, deputy director of wiiw.
The summer forecast assumes that “the conflict over Iran’s nuclear programme does not escalate further and escalate into a regional war, which would significantly increase oil prices,” Grieveson added, adding that US President Donald Trump’s tariff policies could also dampen growth.
Private consumption and high real wages remain the main drivers of the region’s economy. In Poland, the region’s largest market, wiiw expects growth of 3.5% in 2025 and 2026. Croatia can also expect solid growth rates of 2% this year and 2.8% next year. In the case of Turkey, experts predict growth of 3.4% in 2025 and 4% in 2026.
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