By Andrei Skvarsky.
The former communist countries of Central and Eastern Europe showed impressive economic growth in the first quarter of 2017 with an average gross domestic product increase of 3.5 per cent, according to New York-based data provider CEIC.
Of the 16 countries assessed by CEIC in its blog, Romania did best with 5.6 per cent growth. Serbia was at the bottom of the list with 0.8 per cent. None of the other countries posted growth of less than 2.5 per cent.
The GDP of Albania, which in the communist era was a poor, isolationist nation ruled by a Stalinist regime that was one of the communist world’s most brutal dictatorships, grew by four per cent, CEIC said.
CEIC is a unit of Euromoney Institutional Investor Plc, a London-headquartered publisher of financial periodicals and data.