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EBRD: CEE region so far so good

Fabrizio Coricelli, director of EBRD responsible for economical politics, defined the conditions in the Czech, Polish, and Hungarian money markets as solid, noting those reforms have slowed down due to lack of social support.

Problems can be avoided as long as foreign banks keep on financing credits for the CEE region, Coricelli said. Projected growth for 2007 and 2008 will be 7% and 6.1% in average in the 29 countries belonging to EBRD’s sphere of interest, shows a report published earlier this month. 2007 data represents a record since 1989, when economical reforms started. Growth in the CEE region will probably slow due to the effects of the EU and US economies, which are the main commercial partners of the region’s countries. The report recommends the continuation of structural and institutional reforms. (Gazdasági Rádió)