Vor 2008 hatten die MOEL die öffentlichen Haushalte mehrheitlich saniert. Die Wirtschaftskrise bewirkte aber 2009 eine Erhöhung
der Defizite und damit auch der Schulden des Staates. Primäre Ursache von Schuldenproblemen einiger MOEL sind allerdings nicht
staatliche, sondern hohe private Schulden. Die Inflation verflachte im Gefolge der Krise und kam in einigen Ländern zeitweise
ganz zum Stillstand. Die hohe Arbeitslosigkeit wird erst bei stärkerem BIP-Wachstum wieder abnehmen.
Forschungsbereich:Makroökonomie und öffentliche Finanzen
Sprache:Deutsch
Recovery in Central and Eastern Europe
The Central and East European Countries (CEECs) have begun to show signs of more or less brisk economic recovery. It may,
however, take time until their economies will have offset the severe setback they had to face between October 2008 and March
2009. The degree to which individual CEECs suffered from the international financial and economic crisis varies considerably,
due to a range of different factors. Poland was an exception, as its GDP growth decelerated without coming to a complete halt
in 2009. This had quite an impact as the size of the Polish GDP is similar to those of the Czech Republic, Hungary, Slovakia
and Slovenia put together. The only other country where growth did not stop entirely was Albania. In sharp contrast to these
two countries, the Baltic countries and Ukraine had to face a drastic decline in their GDP. The performance of all other CEECs
ranged somewhere between these two extremes. It is rather unlikely that the CEECs will any time soon be returning to GDP growth
rates as high as those they had achieved in the last pre-crisis years. The European and global business environment has become
less propitious, and may not improve in the near future. In addition, the producing sector has been finding it more difficult
and costly to get access to borrowing. Markets are likely to remain sceptic about high current account deficits, which, if
true, would entail far-reaching changes in conditions especially for the Baltic and Southeast European countries.