Small Economies – Central & Eastern Europe Award Winners
The FocusEconomics 10th Anniversary Analyst Forecast Awards celebrate a decade of recognizing the world’s most accurate economic forecasters. Below are the top three ranked forecasters for each indicator across the Central & Eastern Europe region, covering 10 countries.
GDP
| Country | 1st Place | 2nd Place | 3rd Place |
|---|---|---|---|
| Albania |
WIIW
Isilda Mara
|
S&P Global Market Intelligence
Dragana Ignjatovic
|
Raiffeisen Research
Research Team
|
| Bosnia |
WIIW
Selena Duraković
|
S&P Global Market Intelligence
Marta Kaczmarek
|
BMI, a FitchSolutions Company
BMI Research Team
|
| Bulgaria |
National Bank of Greece
Konstantinos Romanos-Louizos
|
Eurobank
Michail Vassileiadis
|
Fitch Ratings
Malgorzata Krzywicka, Greg Kiss
|
| Croatia |
Zagrebacka banka
Hrvoje Dolenec
|
BMI, a FitchSolutions Company
BMI Research Team
|
Capital Economics
Liam Peach
|
| Kosovo |
WIIW
Isilda Mara
|
Oxford Economics
Yasmine Badawy
|
Raiffeisen Research
Research Team
|
| Latvia |
WIIW
Sebastian Leitner
|
Swedbank
Līva Zorgenfreija
|
SEB
Dainis Gašpuitis
|
| Lithuania |
Scope Ratings
Brian Marly
|
Fitch Ratings
Milan Trajkovic, Arvind Ramakrishnan
|
SEB
Tadas Povilauskas
|
| Macedonia |
Fitch Ratings
Arvind Ramakrishnan, Milan Trajkovic
|
EIU
Dan Ridler
|
Euromonitor International
Economies & Consumers Team
|
| Montenegro |
Oxford Economics
Alexander Valentin
|
EIU
Dan Ridler
|
WIIW
Marko Sošić
|
| Serbia |
S&P Global Market Intelligence
Dragana Ignjatovic
|
JPMorgan
Nicolaie Alexandru
|
WIIW
Branimir Jovanović
|
10 countries
Inflation
| Country | 1st Place | 2nd Place | 3rd Place |
|---|---|---|---|
| Albania |
S&P Global Market Intelligence
Dragana Ignjatovic
|
OTP Bank
Gergely Tardos
|
WIIW
Isilda Mara
|
| Bosnia |
S&P Global Market Intelligence
Marta Kaczmarek
|
Raiffeisen Research
Research Team
|
Euromonitor International
Economies & Consumers Team
|
| Croatia |
InterCapital Securities
Ivan Dražetić, CFA
|
Scope Ratings
Julian Zimmermann, Dennis Shen
|
OTP Bank
Marton Kovacs
|
| Latvia |
Moody’s Analytics
Briana Hardy
|
Capital Economics
Liam Peach
|
BMI, a FitchSolutions Company
BMI Research Team
|
| Lithuania |
SEB
Tadas Povilauskas
|
S&P Global Market Intelligence
David Vagenknecht
|
Capital Economics
Liam Peach
|
| Macedonia |
S&P Global Market Intelligence
Shuchita Shukla
|
WIIW
Branimir Jovanović
|
Oxford Economics
Jack Reid
|
| Montenegro |
S&P Global Market Intelligence
Michał Płocheć
|
BMI, a FitchSolutions Company
BMI Research Team
|
WIIW
Marko Sošić
|
| Serbia |
Oxford Economics
Leo Barincou
|
InterCapital Securities
Krešimir Kantolić
|
Fitch Ratings
Malgorzata Krzywicka, Erich Arispe Morales
|
8 countries
Current Account
| Country | 1st Place | 2nd Place | 3rd Place |
|---|---|---|---|
| Albania |
WIIW
Isilda Mara
|
S&P Global Market Intelligence
Dragana Ignjatovic
|
OTP Bank
Gergely Tardos
|
| Bosnia |
EIU
Adeline Van Houtte
|
S&P Global Market Intelligence
Marta Kaczmarek
|
WIIW
Selena Duraković
|
| Bulgaria |
Oxford Economics
Leo Barincou
|
WIIW
Emilia Penkova-Pearson
|
Eurobank
Michail Vassileiadis
|
| Croatia |
Euromonitor International
Economies & Consumers Team
|
Oxford Economics
Rory Fennessy
|
Erste Bank Croatia
Alen Kovac
|
| Kosovo |
BMI, a FitchSolutions Company
BMI Research Team
|
WIIW
Isilda Mara
|
Oxford Economics
Yasmine Badawy
|
| Latvia |
Fitch Ratings
Malgorzata Krzywicka, Arvind Ramakrishnan
|
Swedbank
Latvian macro research team
|
WIIW
Sebastian Leitner
|
| Lithuania |
Capital Economics
Liam Peach
|
EIU
The Europe team
|
SEB
Tadas Povilauskas
|
| Macedonia |
Fitch Ratings
Arvind Ramakrishnan, Milan Trajkovic
|
S&P Global Market Intelligence
Shuchita Shukla
|
Oxford Economics
Jack Reid
|
| Montenegro |
OTP Bank
Krisztian Nemeth
|
EIU
Dan Ridler
|
S&P Global Market Intelligence
Michał Płocheć
|
| Serbia |
OTP Bank
Beata Varadi
|
Citigroup Global Mkts
Ilker Domac-Gultekin Isiklar
|
EIU
The Europe team
|
10 countries
Fiscal Balance
| Country | 1st Place | 2nd Place | 3rd Place |
|---|---|---|---|
| Albania |
National Bank of Greece
Konstantinos Romanos-Louizos
|
EIU
Frances Li
|
Raiffeisen Research
Research Team
|
| Bosnia |
Oxford Economics
Leo Barincou
|
UniCredit
Hrvoje Dolenec
|
WIIW
Selena Duraković
|
| Bulgaria |
Fitch Ratings
Malgorzata Krzywicka, Greg Kiss
|
Capital Economics
Liam Peach
|
Raiffeisen Research
Research Team
|
| Croatia |
Raiffeisen Research
Research Team
|
Euromonitor International
Economies & Consumers Team
|
Zagrebacka banka
Hrvoje Dolenec
|
| Latvia |
SEB
Dainis Gašpuitis
|
Capital Economics
Liam Peach
|
WIIW
Sebastian Leitner
|
| Lithuania |
BMI, a FitchSolutions Company
BMI Research Team
|
Capital Economics
Liam Peach
|
SEB
Tadas Povilauskas
|
| Macedonia |
Fitch Ratings
Arvind Ramakrishnan, Milan Trajkovic
|
S&P Global Market Intelligence
Shuchita Shukla
|
National Bank of Greece
Konstantinos Romanos-Louizos
|
| Montenegro |
Oxford Economics
Alexander Valentin
|
EIU
Dan Ridler
|
S&P Global Market Intelligence
Michał Płocheć
|
| Serbia |
Raiffeisen Research
Ljiljana Grubic
|
OTP Bank
Beata Varadi
|
S&P Global Market Intelligence
Dragana Ignjatovic
|
9 countries
Exchange Rate
| Country | 1st Place | 2nd Place | 3rd Place |
|---|---|---|---|
| Albania |
BMI, a FitchSolutions Company
BMI Research Team
|
Raiffeisen Research
Research Team
|
WIIW
Isilda Mara
National Bank of Greece
Konstantinos Romanos-Louizos
|
| Macedonia |
National Bank of Greece
Konstantinos Romanos-Louizos
|
WIIW
Branimir Jovanović
|
EIU
Dan Ridler
|
| Serbia |
Ipopema Securities
Marcin Sulewski
|
Erste Bank Croatia
Mate Jelic
|
National Bank of Greece
Konstantinos Romanos-Louizos
|
3 countries
Interest Rate
| Country | 1st Place | 2nd Place | 3rd Place |
|---|---|---|---|
| Croatia |
Erste Bank Croatia
Alen Kovac
|
Raiffeisen Research
Research Team
|
Zagrebacka banka
Hrvoje Dolenec
|
| Serbia |
ING
Valentin Tataru
|
JPMorgan
Nicolaie Alexandru
|
OTP Bank
Beata Varadi
|
2 countries
Unemployment
| Country | 1st Place | 2nd Place | 3rd Place |
|---|---|---|---|
| Bulgaria |
Eurobank
Michail Vassileiadis
|
Fitch Ratings
Malgorzata Krzywicka, Greg Kiss
|
S&P Global Market Intelligence
David Vagenknecht
|
| Croatia |
Kopint-Tárki
Péter Vakhal
|
Erste Bank Croatia
Alen Kovac
|
Zagrebacka banka
Hrvoje Dolenec
|
| Latvia |
Euromonitor International
Economies & Consumers Team
|
Scope Ratings
Brian Marly, Dennis Shen
|
WIIW
Sebastian Leitner
|
| Lithuania |
EIU
The Europe team
|
SEB
Tadas Povilauskas
|
Euromonitor International
Economies & Consumers Team
|
| Macedonia |
WIIW
Branimir Jovanović
|
Bloomberg Adria
Research Team
|
S&P Global Market Intelligence
Shuchita Shukla
|
| Serbia |
ING
Valentin Tataru
|
EIU
The Europe team
|
Banca Intesa Beograd
Research Team
|
6 countries
Overall
| Country | 1st Place | 2nd Place | 3rd Place |
|---|---|---|---|
| Albania |
WIIW
Isilda Mara
|
S&P Global Market Intelligence
Dragana Ignjatovic
|
Raiffeisen Research
Research Team
|
| Bosnia |
S&P Global Market Intelligence
Marta Kaczmarek
|
WIIW
Selena Duraković
|
Bloomberg Adria
Research Team
|
| Bulgaria |
National Bank of Greece
Konstantinos Romanos-Louizos
|
Eurobank
Michail Vassileiadis
|
Fitch Ratings
Malgorzata Krzywicka, Greg Kiss
|
| Croatia |
Zagrebacka banka
Hrvoje Dolenec
|
Fitch Ratings
Malgorzata Krzywicka, Kit Yeung
|
BMI, a FitchSolutions Company
BMI Research Team
|
| Latvia |
SEB
Dainis Gašpuitis
|
BMI, a FitchSolutions Company
BMI Research Team
WIIW
Sebastian Leitner
|
— |
| Lithuania |
SEB
Tadas Povilauskas
|
Scope Ratings
Brian Marly, Dennis Shen
|
Fitch Ratings
Milan Trajkovic, Arvind Ramakrishnan
|
| Macedonia |
National Bank of Greece
Konstantinos Romanos-Louizos
|
Fitch Ratings
Arvind Ramakrishnan, Milan Trajkovic
|
EIU
Dan Ridler
|
| Montenegro |
S&P Global Market Intelligence
Michał Płocheć
|
EIU
Dan Ridler
|
WIIW
Marko Sošić
|
| Serbia |
National Bank of Greece
Konstantinos Romanos-Louizos
|
JPMorgan
Nicolaie Alexandru
|
ING
Valentin Tataru
|
9 countries
Rankings determined by FocusEconomics’ proprietary accuracy methodology. Where two forecasters achieved equal accuracy, both are listed at the same rank.