Balkans: Kosovo, Albania strongest growing economies 2019-21
In the area challenges to medium-long-term growth 'formidable'
28 March, 10:59In general, however, "the boom experienced by much of the region in 2017-18 is over, and growth rates will mostly trend lower in the next 2-3 years" with the slowest growth to be expected in Russia, Belarus and Turkey, WIIW said in a statement, adding that weaker global growth, US protectionism, Brexit, ongoing problems in the eurozone and severe labor shortage are among the major threats for the region.
Moreover, the entire region faces medium- and long term challenges, WIIW added. Among them, the Institute said, "demographic decline unprecedented in peacetime, attacks on the quality and independence of institutions, a lack of preparedness for the new digital economy, and low levels of automation relative to frontrunners in Asia, North America and Western Europe." (ANSA).