The international economic and financial crisis is damaging the whole European Union. Nevertheless the newest member countries are suffering more in terms of job losses and public accounts imbalances. Can this situation disrupt the integration process in the EU, given that it is built primarly on the commercial and financial exchanges between new members and founding states?

This report focuses on financial, economic and commercial indicators about the Bosnian economy in the period which stretches from 2000 to 2005. it includes a quick overview on the period after indipendence from the Jugoslav Federation. 

Following the Greek difficulties and the comments by some Hungarian officials regarding the week status of Hungary’s public finances, this week the Bulgarian budget was at center stage. To avoid sustainability of its fiscal position being called into question, the Bulgarian government already implemented a number of austerity measures, but the European Commissioner Rehn is considering sending a missionto the country.

The entry of Bulgaria in the European Union, on 1 January 2007, has marked an acceleration in the development pace of the nation. Sofia has seen a GDP growth of 6.3% in 2007 and a similar course in the beginning of 2008. Foreign Direct Investments have recently been on the rise, too. Nonetheless the country suffers some structural problems, such as widespread corruption, poverty and unemployment.

The recovery from the economic downturn in South East Europe (SEE) is delayed and the countries of the area are suffering from its effects, in particular on the society and productive activities. This survey, by the research unit of the Unicredit banking Group, highlights the perspectives, the weeknesses and strenghts of seventeen nations of the area with regard to the first quarter of 2010.

In CEE we expect GDP growth in the region next year of 3.8%, up from 3.6% this year, with every country in our group to show gains for the first time in 4 years. The crisis is not over yet, but signs of recovery begin to show in the area. What to expect for the new year?

The impact of the global crisis is not ended and the south east european countries are still inside significant  social and economic difficulties. The recovery is possible but needs much work on the financial and institutional side. This survey, by the research unit of the Unicredit banking Group, highlights the perspectives, the weeknesses and strenghts of seventeen countries of the area in the second quarter of 2010.

This report focuses on financial, economic and commercial indicators about the Croatian economy in the period which stretches from 2000 to 2005. it includes a quick overview on the period after indipendence from the Jugoslav Federation. 

Estonia will be the 17th eurozone member, the third of the ex-communist countries after Slovenia (2007) and Slovakia (2009) to join the common currency, the euro. Indeed, the EU authorities gave a positive assessment on Estonia’s readiness to join the eurozone, despite several macroeconomic and structural risks underlined by the authorities.

The liberalization of the Balkan economies was seen by the EU, the USA and the major international financial institutions as necessary to attract and steer, politically and financially, the ex-Yugoslav nations on the way to western model of society. The Central Eastern Free Trade Agreement (CEFTA) in its most recent shape was established in 2007 and since then have made achivements but also raised problems.

Since the transition period, Kirghizistan has been supported by financial international organizations and has been developing a plan of economic restructuring in order to rebuild the economic structure of the country. Anyway, in the first decade after indipendence, the Central Asian nation has suffered a difficult and a sharp worsening of general situation of the population.

The latvian economy is suffering strongly because of the international business climate. The baltic country has obtained a loan worth 7.5 billion euros from the International Monetary Found, the European Union and other states particularly involved in the latvian economy. It will sustain the national productive structure, but the debt and the deeply negative social and economic indexes foreshadow a difficult future in the near term.

Romania’s Constitutional Court ruled on 25 June that some of the austerity measures to be implemented by the government are unconstitutional. To offset the ruling that pensions cannot be cut, the government decided to increase VAT. These events have prompted the possible delay in a rebound of local demand. This year will also see a one-off jump in inflation as an immediate consequence of the VAT increase.

During 2000 - 2005, the Romanian economy has been identified by efficient and relevant macroeconomic equilibrium between the economic growth, on one side, and dis-inflation process, and alleviation of domestic and external deficits, on the other side. The quantitative ranges and particularly the qualitative economic changes - as a direct result of the deep structural reforms - reflect the considerable progress that has been achieved in setting up an operational and dynamic market economy.