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    <subfield code="a">Wirtschaftswachstum hat in Ost-Mitteleuropa H&#xF6;hepunkt vorl&#xE4;ufig &#xFC;berschritten (Reprint from: WIFO-Monatsberichte, Vol. 74, No. 5, May 2001)</subfield>
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    <subfield code="a">Central and East European Economies: Moderate Slowdown After the Boom in 2000



In the year 2000, for the first time since the beginning of transformation the economy grew in all Central and East European countries (CEECs). All countries managed to accommodate the shock of high oil prices - no currency, current account, or banking crisis occurred. Croatia, the Czech Republic, Romania and Ukraine pulled themselves out of recession, and so did the Federal Republic of Yugoslavia, under very special conditions. The CEECs gained from the business climate in the European Union and in the USA, but this positive influence will lose strength in 2001. The picture in this year will be mixed. Some countries will continue to recover further from recession or near-stagnation, others, such as Poland and Russia, both important due their size, are likely to achieve less growth than last year. Poland is plagued by a high current account deficit and a stagnating domestic demand, Russia is confronted with less favourable world market prices for oil and a gradual real appreciation of the currency. Over the whole region, growth will continue in 2002, but disturbances are always possible, as the countries are vulnerable to external influences, and some of them are still struggling with irregularities in their financial system.





Zusammenfassung



Die Hoffnung, dass im Jahr 2000 die Wirtschaft erstmals in allen ostmitteleurop&#xE4;ischen L&#xE4;ndern (MOEL) wachsen w&#xFC;rde, hat sich erf&#xFC;llt. Die schwierigste Phase des Umbaus scheint nunmehr &#xFC;berall &#xFC;berwunden zu sein. Die Anf&#xE4;lligkeit f&#xFC;r R&#xFC;ckschl&#xE4;ge bleibt bestehen, aber je nach der wirtschaftlichen Reife der einzelnen L&#xE4;nder in sehr unterschiedlichem Ma&#xDF;e. Die sich abzeichnende Abschw&#xE4;chung der Weltkonjunktur wird voraussichtlich auch Ost-Mitteleuropa erfassen.
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