The Central and Eastern European economies will have a weak year

The Central and Eastern European economies will have a much weaker, “challenging” year

than last year. Many of them – including Hungary – is expected to spend year 2012 in recession – shows the comprehensive quarterly assessment of the situation of one of the largest London-based economic-financial analysis center.

The Capital Economics experts in their forecast probables recession in six out of thirteen Central and Eastern European economies for 2012. According to the experts Hungary's gross domestic product (GDP) will decrease by 1.5 percent this year, but the house expects recession in the Czech Republic (-0.8), Romania (-0.5), Bulgaria (-0.5), Croatia (- 1.0) and in Turkey (-1.0) as well. Capital Economics expects that an average 1.3 percent growth will occur in these group of countries after last year’s 4.6 percent regional GDP growth. (MTI)