Many of the newer EU member states saw their scores deteriorate on the latest Corruption Perceptions Index amid growing state capture and efforts by governments to undermine judicial independence.
Most economies are failing to provide the conditions in which their citizens can thrive, said the World Economic Forum on releasing its new social mobility index.
The headline figure also sees the PPI inflation rate below zero for the fifth consecutive month after an uninterrupted growth period of nearly three years.
CEESE had a good year in 2019, with the economies in the region buoyed by increasing domestic consumption and capital spending that allowed the region to decouple from western Europe.
Lithuania enjoyed robust growth in 2019 but this is forecast to decline in 2020 given the deteriorating external environment.
The European Commission’s batch of Economic Sentiment Indicators (ESIs) fell sharply in December, although they remain consistent with regional GDP growth holding steady at around 3.6% y/y in Q4. Robust domestic demand should help to cushion the blow
Prime Minister Krisjans Karins, who heads a fractious five-party coalition, has pledged to put cleaning up Latvia’s financial sector at the top of his priority list.
A slowdown is looming for Estonia’s small, open economy in 2020, a year during which Tallinn will also have to restore trust in a banking sector tarnished by allegations of massive money laundering.
The November gain ends a short two-month streak during which retail turnover fell in Latvia after 45 months of uninterrupted growth. The weaker performance is in line with forecasts of a slowdown in economic growth in 2019.