In 1997, the five more advanced CEECs – the Czech Republic, Hungary, Poland, Slovakia, Slovenia – performed, on average, as well as in 1996. Hungary overcame the effects of its 1995 stabilization policy, recording quite high export-driven growth. The Czech Republic, until recently a paragon...

All CEECs, with the exception of Hungary and Croatia, performed well in 1995. GDP rose by 5.5 percent on average. Private consumption and gross investment were essential in inducing growth. Inflation was falling, although remaining still high according to Western standards in most countries,...

The Central and East European economies closed the year well behind 1995, with an average GDP growth of 3.5 percent. High investment helped to maintain high GDP growth in Poland and Slovakia. The banking crisis in Bulgaria resulted in strong GDP decline and very high inflation. Russia and...