* The Czech Republic, Poland, Hungary and Romania are experiencing an economic boom, according to the British Economist.
** The linked article below from novinky.cz was translated from Czech to English.
The four central-eastern countries of the European Union, which do not participate in the euro, grew faster than the rest of the union, writes the British Economist. The European Commission expects the Hungarian economy to grow by 3.7% this year, Polish by 4.2%, Czech by 4.3% and Romanian by 5.7 percent.
In the third quarter, the average growth of the EU zone (all 28) recorded 2.5% growth. The Czech Republic and Poland grew by 5%, while Romania surged at 8.6 percent. According to the Economist, the first signs of overheating in the economy are beginning to emerge in the countries experiencing the current boom.
The real estate market and the labor market are overheating now. Cooling can be expected early in 2019, with the onset of a cyclical downturn in the economy, “Cyrrus chief economist Luka Kovanda told Novinka.
However, according to Kovanda, the Czech Republic is not at risk. “So far, there is a slowdown in economic growth and wage growth predicted in 2020 and 2021,” he said.
“The United States, the world’s largest economy, is seventy percent likely to plunge into the recession over the next four years, which of course will negatively affect the world,” predicts Kovanda.
*** Yes, challenges remain for these vibrant emerging market economies, including finding alternative markets outside of the EU. However, they should continue to shine as some of the EU’s fastest growing economies.
Slovakia’s Robert Fico may want to rethink his embrace of Emmanuel Macron’s overrated EU Core in Western Europe. They seem to be entangled and stuck in the heavy chains of socialism.
Europe’s “A Team” and future are Fico’s close neighbors in the lands of Visegrad and Central-Eastern Europe.
Onward V4! You are the future. Stay strong and united.