Bartosz Jóźwik | Institute of Central Europe

Baltic Team

IEŚ Commentaries 1024

Bartosz Jóźwik | Marlena Gołębiowska - Baltic Team

Year 2023: The State of the Central European Economies

In 2023, five Central European economies (Estonia, Lithuania, Hungary, Latvia, and the Czech Republic) are expected to end the year in a state of recession, while four (Hungary, Czech Republic, Poland, and Slovakia) are facing double-digit average annual inflation. Furthermore, as many as seven countries in the region are projected to record budget deficits exceeding 3% of GDP....

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Baltic Team

IEŚ Commentaries 994

Marlena Gołębiowska | Bartosz Jóźwik - Baltic Team

International Competitiveness of Economies: The Baltic States

Competitiveness is a key element of the European Union’s development strategy. In all the Baltic states, a significant weakening of competitiveness is currently observed, primarily due to external factors over which these countries, as both small and open economies, have limited influence. At the same time, however, Lithuania, Latvia, and Estonia continue to invest in the...

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Baltic Team

IEŚ Commentaries 941

Bartosz Jóźwik - Baltic Team

Public Finance Sector Stability in Central European Countries (Part 3)

The Spring 2023 economic forecasts published by the European Commission indicate that, despite a gradual improvement in the stability of the public finance sector, many Central European countries will continue to experience budget deficits exceeding 3% of GDP. The largest budget deficits will be observed in Slovakia and Poland. Despite these challenges, both economies will...

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Baltic Team

IEŚ Commentaries 939

Bartosz Jóźwik - Baltic Team

Public Finance Sector Stability in Central European Countries (Part 2)

In 2022, among eleven Central European countries, five of them had budget deficits that exceeded the agreed limit of 3% of GDP. According to the latest data from Eurostat, the highest budget deficits, and consequently, the greatest challenges for the stability of the public finance sector, were recorded in Hungary and Romania. Hungary, thanks to its expansive fiscal policy,...

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Baltic Team

IEŚ Commentaries 916

Bartosz Jóźwik - Baltic Team

Public Finance Sector Stability in Central European Countries (Part 1)

During deep recessions such as those triggered recently by the COVID-19 pandemic and the war between Russia and Ukraine, ensuring stability in the public finance sector is not an easy task. In EU countries, this stability is associated with maintaining budget deficits and public debt below the levels required by the Maastricht criteria. In 2022, many Central European countries...

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Baltic Team

IEŚ Commentaries 902

Bartosz Jóźwik - Baltic Team

Economic growth slowdown and future prospects: an analysis of forecasts for Lithuania

Lithuania’s pursuit of geopolitical stabilization and the effective use of financial resources is crucial for its economic recovery. The European Commission’s forecasts for 2023 suggest a slowdown in economic growth due to persistent inflation. However, there are more optimistic prospects for 2024, which anticipate greater economic growth due to lower inflation, increased...

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Baltic Team

IEŚ Commentaries 887

Bartosz Jóźwik - Baltic Team

The path to stability: the future of Latvia in the context of economic forecasts for the years 2023-2024

Despite having to grapple with issues such as the effects of the war between Russia and Ukraine or – earlier – the COVID-19 pandemic, Latvia’s economy has demonstrated its ability to adapt and maintain growth dynamics. Notwithstanding the anticipated slowdown in export growth due to a decrease in foreign demand, the second half of 2023 is likely to see a significant...

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Baltic Team

IEŚ Commentaries 878

Bartosz Jóźwik - Baltic Team

Estonia in the face of economic difficulties: an analysis of GDP decline and prospects for the future

The Estonian economy has been facing problems that have had a significant impact on its economic outlook. In 2022, Estonia’s real GDP decreased by 1.3% compared to the previous year. Forecasts which indicate that the downward trend might continue in 2023 are also concerning. Interestingly, despite the unfavourable economic situation, there is a decrease in the unemployment rate...

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