Economic Recovery in Eastern Europe Hindered by Looming Unemployment Crisis
Central, East, and Southeast Europe faced a severe recession in 2009, with most countries experiencing a decline in GDP. The crisis led to a significant reduction in inventories and a boost in net exports. While some countries like Poland showed positive growth, others like the Baltic States suffered setbacks. The region is slowly recovering, with Poland leading the way in 2010. However, countries like Hungary, Romania, and Bulgaria are still struggling. The main hope for growth lies in a global trade recovery, but unemployment is expected to rise before slowly decreasing. Low-skilled workers are the most affected by the crisis.