climate and expect the SEE-7 to return to higher growth by the year 2010. Inflation has calmed down, but it is still a matter … current account has widened. Unemployment is high, a fact that will not change substantially during the next few years …. Inflation calms down The whole region was hit by the external price shock that swiftly resulted in a rapid surge in domestic …

. Macroeconomic stability will be maintained, though inflation is picking up; and is a serious problem in Serbia and Romania …. Inflation is a major concern in Turkey, as is macroeconomic stability more fundamentally. At the end of 2006 it should be …, inflation is expected to remain in double digits. The new government is likely to be less inclined to implement liberal reforms …

weak rebound of economic activities, unemployment will continue to rise, probably peaking in 2010, before falling slowly to …

nowadays much sounder than in the past (Hungary being temporarily an exception). The rates of inflation are quite low and … risks, especially those connected with high or very high unemployment. Overall, prospects for growth are good in the short … growing external borrowing, possibly associated with the growing presence of foreign banks. Inflation apart, the country …

import growth lagged behind export growth, yielding better trade balances. The stronger economic growth reduced unemployment … the aggregate unemployment rate in the NMS declined by 1.7 p.p. in the post-accession period. However, three macroeconomic … stability indicators – inflation, current account status and fiscal balance – reveal a more differentiated and less favourable …

down from about 6% in 2007 to some 5% per year over the period 2008 2010. Inflation will gradually decline, yet in most NMS … labour market has improved dramatically, unemployment has declined rapidly. The economic growth is no longer 'jobless'. On …

era of permanent stagnation with high and rising unemployment. Euro area enters recession, CESEE to follow? Given the …