Financial News

EUROSTAT: the lowest labour costs were recorded in the CEE region

Among the EU Member States for which data are available for the first quarter of 2011, the highest annual increases in hourly labour costs were registered in Bulgaria (+7.8 %) and Hungary (+5.6 %). Still, both countries belong to 6 CEE countries group recording the lowest labour cost in the European Union. Annual decreases were observed in Greece (-6.8 %)and Ireland (-2.2 %), the Labour cost index published by EUROSTAT on June, 20th states.

IMF: Economic expansion of 4.5% expected in 2011 and 2012 in emerging Europe

"Emerging Europe returned to growth in 2010, but performance varied widely across the region, reflecting the idiosyncratic legacies of previous boom-bust cycles. For 2011 and 2012, an economic expansion of 4¼ percent is projected with much less disparity in intraregional growth, as domestic demand takes over as the main driving force", states the Regional Economic Outlook: Europe - Strengthening the Recovery, released in May by the International Monetary Fund (IMF).