RaboResearch - Economic Research

Country Report

Country Report Hungary

Over 2014 Hungary's economic growth increased to 3% thanks to a surge of EU-funds, the central bank’s “Lending for Growth” scheme, a peak in (car) industry investments, a good harvest and low inflation. For 2015 an economic growth of about 2.5% and a budget deficit below 3% is expected. Concerns remain about the continuation of unorthodox economic policies.

Country Report

Country Report Bulgaria

Growth in Bulgaria remains weak and fiscal balances have been deteriorating, though from a low base. The banking sector has weathered last year’s crisis well, but further measures are necessary to improve its resilience in the future

Country Report

Country Report Luxembourg

Economic growth in Luxembourg remains strong, but international regulatory changes could chal-lenge the country’s economic model and strong fiscal position in the future.

Country Report

Country report United Kingdom

The UK economy has seen more balanced growth lately: wage growth has returned, debt levels are gradually falling and the housing market has cooled down. However, a low Euro weighs on export performance while the risk of a Brexit has increased.

Country Report

Country Report Poland

Poland embarked on a broad-based economic recovery, as growth rose from 1.6% in 2013 to 3.3% last year. Large amounts of CHF-denominated mortgages should not derail the recovery, while upcoming elections are unlikely to lead to major policy changes.

Country Report

Country Report Turkey

Political pressure on the central bank ahead of parliamentary elections contributed to a strong depreciation of the Turkish lira. Concerns about a possible executive presidency after elections and more populist economic policies unnerve investors.