Hungarian Parliament building

Central & Eastern Europe Economic Forecast

Central & Eastern Europe Economic Outlook

The CEE economy will grow at a markedly softer pace this year compared to 2022. Depleted savings amid still-high inflation will hit consumer spending and—together with high interest rates—investment activity. Additionally, a downbeat global environment will hurt exports and industrial output. Commodity prices and the evolution of the war in Ukraine are factors to monitor.

Central & Eastern Europe Inflation

Regional inflation fell to 10.2% in July from 11.2% in June as price pressures softened throughout the region—especially in the Baltics. Inflation should continue its downtrend ahead, but robust nominal wage growth and pass-through effects will keep it above central bank targets. The evolutions of regional currencies and commodity prices are key factors to watch.

This chart displays Economic Growth (GDP, ann. var. %) for Central & Eastern Europe from 2010 to 2022.

2018 2019 2020 2021 2022
Economic Growth (GDP, ann. var. %) 4.7 3.9 -3.4 6.4 4.1
Private Consumption (ann. var. %) 4.8 3.5 -3.8 6.4 3.8
Fixed Investment (ann. var. %) 9.3 7.8 -3.1 2.4 4.2
Industrial Production (ann. var. %) 4.5 1.9 -4.7 11.2 5.2
Unemployment (% of active population, aop) 5.1 4.6 5.9 5.3 4.8
Fiscal Balance (% of GDP) -0.5 -1.0 -6.9 -4.1 -3.8
Public Debt (% of GDP) 45.2 43.1 53.9 52.8 49.8
Inflation (CPI, ann. var. %, aop) 2.5 2.7 2.6 4.4 14.3
1-week Repo Rate (%, eop) 1.67 1.72 0.47 2.23 -
Exchange Rate (ALL per USD, eop) 35.38 37.05 35.72 39.22 43.29

Free Sample Report

Interested in Central & Eastern Europe economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest